"Obama's An Idiot" is where my political bitches now live. Go ye thereto and read.

Wednesday, February 04, 2009

Fat Cats

Obama to set executive pay limits
44 minutes ago

WASHINGTON (Reuters) - President Barack Obama kicks off a campaign on Wednesday to rein in corporate compensation with rules limiting executive pay to $500,000 a year for companies getting taxpayer bailout funds in the future.
Sure. On the surface that sounds just dandy, right? Keep them big bellied bankers from getting paid way more than they're worth?

Vell, zat's how ve do sings in zee old cuntree. It iss goot. Ze guvmint tell you vat you do, how you do eet, and ze money you vill make, yah.

To me it appears as another step towards socialized banking. The government deciding how much you will make at your job. Who's next?

Sure, us taxpayers are paying their salary right now, and I personally don't think they deserve to make that kind of money when they fucked things up and ruined their business. But on the other hand, if I were used to making millions per year at my job, I don't know that I would continue to do my job at a fraction of my prior salary. So then, that leaves whom at the helm? Uncle Sam and his democrats.



Anonymous said...

Being the Patriot I am, I will make the sacrifice of taking one of those $500,000 dollars a year jobs. Sure, it's tough, but somebody has to step forth.

curmudgeon said...

I would love to myself. Couldn't fuck things up any worse.

The British Bird. said...

all these CEO's will do is not ask for a bail out.. so they will either sink or swim. More lay offs but its happening anyway because the money isnt going to help keep the company afloat its going for salarys perks and vacation homes.. yep.

curmudgeon said...

Pretty much.

Miss Sassy said...

My NPR day started with this conversation, one of the best things I heard was "these people are in private industry because they know how to make money and found a place they could do it. Turning these few top of the ladder positions essentially into gov't paid positions, well, that doesn't do anything for the top broker, the one actually handling these funds that went belly up, from making his 'company standard compensation' and still making 10 million this year".
And they are allowed to get paid in stock they can cash as soon as they pay the taxpayer back?!?!? as in, buy a billion shares now when its super cheap and cash out once business is better? UM OK SOUNDS LIKE A PLAN! who is going to keep them from sinking the company when the stay with this shitty plan and then put 1/3 of the company stock back on the market when the bail?

curmudgeon said...

In the beginning was the plan. And the plan was good...