Obama wants exec pay slashed

The Obama administration plans to order companies that have received exceptionally large amounts of bailout money from the government to slash compensation for their highest-paid executives, according to people familiar with the decision.

[timmy]

It's about time, but I think thet'll keep doing bussiness as usual. This is all wasted ink and time.

[Guy Average]

timmy wrote:

It's about time, but I think thet'll keep doing bussiness as usual. This is all wasted ink and time.

In any free-market, the government has no input into what a private corporation pays any of its employees.

We are no longer in a free market.

Our Constitution limits the powers of the federal government in such a way to not give the President the power to control what private enterprise does with its money. The "Stimulus" is simply a power grab by the federal government, and this is the President exercising the power that has been grabbed. Our economy will steadily decline to something similar to Cuba, which is of course the goal of this POTUS. http://www.discoverthenetworks.org/individual...

http://guyaverage.blogspot.com

[Reality-based]

Guy Average wrote:

<quoted text>
In any free-market, the government has no input into what a private corporation pays any of its employees.
We are no longer in a free market.
Our Constitution limits the powers of the federal government in such a way to not give the President the power to control what private enterprise does with its money. The "Stimulus" is simply a power grab by the federal government, and this is the President exercising the power that has been grabbed. Our economy will steadily decline to something similar to Cuba, which is of course the goal of this POTUS. http://www.discoverthenetworks.org/individual...
http://guyaverage.blogspot.com

0.2% of the U.S. economy has been temporarily nationalized to prevent full credit market and economic lockup similar to Japan's "lost decade" in the 1990s. It's not yet time to start making ridiculous comparisons to Cuba.

[Thela Wilkinson]

I don't believe big or little companies should get the outraged salaries they do, but I also believe in free enterprise and that the government stay our of our business. I have an idea, lets slash the president and the senates salaries. How about that. This country was made on free enterprise and it should stay that way. Drop the health plan. all you want is the freeloaders to go on freeloading. We working americans are tired of paying for everything. And give me my social security raise as the law provides.

[Not from Pataskala]

Hold on!! If you cut these guys salaries, they won't have as much money to tax. Wouldn't the government get the money either way after the tax increase for the wealthy goes into affect?

[John]

Is Obama willing to take the same pay cut?

[the reds are here]

Well, the axe has fallen - the federal government now essentially controls the insurance, banking and automotive industries. The executives of these and other companies may have been foolish to bring them near to ruin, and craven to run (actually, fly in corporate jets) to Washington to be bailed out, but massive infusion of our money and the appointment of a covert Marxist to make decisions was not and is not the answer. From now on we will be bearing the increasing cost of European-style nationalized industrial financial and industrial dinosaurs which will be increasingly sclerotic and non-competitive, and soon the czars will set everyone's pay and benefits and vacations and perks. Sooner or later the police and the death camps will come,too.

[Rcho]

Pay back the money in full, and it end of the story. this is for companies that took the bail out money, so it make sense for the government to set some kind of limit.

[puleease]

I guess we should have just let the banking industry, auto industry, and insurance industry fail, eh?

[CFNA]

I don't see the government reaching out to limit the salaries on its own officials such as congressmen, aides, staff and judges. When they start cutting the fat that they produce then maybe they can throw some stones without breaking the glass (white)house.

Until then Obama and his so called lackey czars need to shut it.

[worker]

What people don't realize about this is if the government starts telling exec's what they can make they are not going to stop there, once you give them control over them then they will keep on going until they are telling you and me what we should be making, people in America need to wake up to this government, they want to control as much as possible. If they are going to tell the exec's what they can make, how about sport stars', how about all those Hollywood stars that think Obama is so great, let's see him start telling them they are making too much, if it wasn't for all the money they are making that they give to the democratic's he wouldn't be elected. This government is trying to take as much of our freedom as they can

[really]

You can't give them the money and then complain when they act the way they've always acted. Why wasn't the enforcement front-loaded?
When the financial-service industry started paying big bonuses with bailout money, what was Barry's reaction:
"That's unacceptable" or "I've been clear from the beginning" or "That's clearly unacceptable."
What a dope. He'll probably blame this on Fox News too.

[Mon]

Where does Obama & other polital folks get the right to determine how much money executives get? How many times have they given themselves raises?