Also: Obama OKs Kids' Health Insurance Bill | Senate Votes to Up Homebuyers Aid
Obama Imposes Pay Cap on Executives
Also: Obama OKs Kids' Health Insurance Bill | Senate Votes to Up Homebuyers Aid
(5778)
jayflanagan
04:10 PMFeb 12 2009
The politicians didn't put a cap on their salaries even though they helped, some think are the main cause, bring about this crisis. These are people who probably couldn't, for the majority, run a business on their own, have no idea of economics and how their decisions can wreak havoc with the real world and use their political power to get jobs for those in their families otherwise unemployable. Yeah, they have the discipline to set caps on other but not themselves. Hypocrites all of them.
appoloniea
12:43 PMFeb 11 2009
ZOOPA BUG - You are quite right, but it doesn't matter anymore. Welcome to the USSA.
PinKrBelle
07:46 PMFeb 11 2009
Who will take on such enormous responsibility with a pay cap @$500K? The 'have nots' envy those who make large salaries, and want to punsh them - so everyone say's yeah yeah let's punish those bad ceo's! But why stop at 'rich CEO's, why not sports player caps? movie star caps? congress caps? Companies pay what the market will bear to attract talent -- what you will get with caps will be less qualified people. I suspect he will not legally be able to do this -- but that doesn't seem to worry messiah Obama - I guess he'll just change he laws, as he sees fit. I think he forgets we are not a dictatorship ( or he's working on it) Compensation, SHOULD be tied to actual performance, not 'bumped up #'s'. But if you're going to point the finger at these people, why not examine how much money Chris Dodd and Barney Frank came out with from their failed mangement of Fannie Mae and Freddie Mac? I thnk it's disingenuous to create CEO's as the 'common enemy' - also disingenuous of Chris Do...
Act1girl
07:01 PMFeb 11 2009
I love it when the wolves turn on their own. Wonder how these CEO's who contributed millions to Hussein's campaign feel about him capping their salaries. HAHAHAHAHAHAHHA! No honor among thieves. Just wait. It's only a matter of time before all our salaries are capped under this new socialist regime. Great job voting, America! Remember, A government who feeds you cannot free you.
JMStovallLaw
12:34 PMFeb 10 2009
JLGOSNOW. Great point. We should cap teacher's pay at $500,000 also. You are very smart. LOL
gatrel1959
11:36 AMFeb 10 2009
Cuttin peoples pay ain't gona do much unless u cut Mr. Presidents spending also. He couldn't survive 1 month where I live an the way I have to live. Neither could any congress or senator. Mr. Presidenta can cut pay, but they will find a way to get the money they are used to gettin. We ain't seen TROUBLE yet. Times are going to get much worse.
ZOOPA BUG
11:48 PMFeb 10 2009
When you consider that Odumba comes from a poor background with all the consequent resentment and jealosy that goes along with that, it's only natural he would try to institute this kind of an obtrusive and illegal govt. action. What he failed to realize is that his plan is unconstitutional and illegal. In the constitution it states the govt. will not interfere with contracts. This means he can not legally say that if you accept the bailout money we (meaning the govt.) will tell the bd. of directors what your pay should be. This is like me accepting a welfare check and the govt. telling me what kind of food I should buy and if I don't obey they'll stop sending the checks. You can't do that. It's unconstitutional and you can be sure it will be challenged in court based on that argument. Didn't he realize if you do that then other companies, who are not getting a loan from the govt., are free to offer more money to lure away executives which will only hurt the cos. that are already hur...
ConcreteIron
03:41 PMFeb 09 2009
Since the TV and movie industries are receiving money from the stimulus plan, will the movie and TV moguls take pay cuts?? Oprah??
RAMSES57
03:04 PMFeb 09 2009
all CEO's saw what happened with the first government handout so they came running for "their" share. Well all Obama is saying is fine if you want it there are strings attached. 1/2 mil for salary cap on all CEO of companies that are failing. how did they get in that position in the first place. mis-management. aren't they the CEO and responsibility falls on them? I Got no problem with that. can't handle it then go borrow money somewhere else. Last time I checked when anyone wanted to borrow money be it for car loan, house lone, etc. we had to follow their requirements or we could try the next bank, credit union and so on. there are rules and regulations and they added outlandish fees just for the paper work. All successful CEO's do not have to worry about the salary limit. and deservedly so. you mis-manage you don't get rewarded with a bonus as was happening. 18 Billion in bonuses to wall street last year while all around them was falling apart. thats where the financial aid went to...

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