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Czar to substantially cut pay: Summers
WASHINGTON (Reuters) - Top White House economic adviser Lawrence Summers said on Wednesday the administration's pay czar will "substantially reduce" the paychecks at firms that have received billions of taxpayer dollars.
Czar to substantially cut pay: Summers | U.S. | Reuters
i have no issues with this, actually, i think the ceo of my company should be railroaded out on a train to nowhere, with empty pockets.It's official we now live in a fascist corporatist state where school children are forced to sing the praises of Il Duce, the 4th estate is a branch of the white house press office, all dissenters are punished or preemptively threatened, and the state runs private enterprise through unelected, unratified czars.
**** you Obama you fascist POS.
It's official we now live in a fascist corporatist state where school children are forced to sing the praises of Il Duce, the 4th estate is a branch of the white house press office, all dissenters are punished or preemptively threatened, and the state runs private enterprise through unelected, unratified czars.
**** you Obama you fascist POS.
i have no issues with this, actually, i think the ceo of my company should be railroaded out on a train to nowhere, with empty pockets.
It's official we now live in a fascist corporatist state where school children are forced to sing the praises of Il Duce, the 4th estate is a branch of the white house press office, all dissenters are punished or preemptively threatened, and the state runs private enterprise through unelected, unratified czars.
**** you Obama you fascist POS.
I don;'t think that word "fascist" means what you think it does. You sure do like throwing it around though.
And who asked for the money again? Oh yeah, the firms. Don't let facts get in the way though of your fascist rants.
This is the government's attempt to curb moral hazard. It does make some sort of sense considering not every TARP recipients will effected. Wonder how outraged Goldman is?
Why would they be outraged - their pay isn't affected.
Also, how exactly is it "curbing moral hazard" if it's only applying to a tiny handful of people at each company?
There is no standing in the Constitution to hand businesses Billions of dollars to keep them from going under either.
Obama will cut pay by almost 50% for a whopping 25 people at each company. That will certainly have a huge effect on the thousands of people at each of these companies who will take home the exact same salary as they would otherwise. :roll:
He's just doing this **** for show. It's embarrassing,
I don;'t think that word "fascist" means what you think it does. You sure do like throwing it around though.
And who asked for the money again? Oh yeah, the firms. Don't let facts get in the way though of your fascist rants.
There is actually, it's called the General Welfare Clause, however, I was opposed to the bailouts because I knew what it really was, IE nationalization of private industry for the state, rather than the bailouts we had under Bush with the airlines that didn't, also, come along with absurd regulatory conditions bordering on state takeover attached.
"If Congress can do whatever in their discretion can be done by money, and will promote the General Welfare, the Government is no longer a limited one, possessing enumerated powers, but an indefinite one...."
-- James Madison, letter to Edmund Pendleton, January 21, 1792
*bold by me
Debateable at the very least. It has been held that the GW clause doesn't grant any power but is merely an explanation of the use of power previously mentioned in the Constitution.
The corps can avoid the pay cuts by paying back the bailout money.
possibly becasue he continues to take bonuses while our stock plummets, and he's run our company into the ground.Why? Because he's a bad manager? Makes too much money and you you hate people who make money? Why, in this the freest country in the world, should he be run out of town on a rail?
Please explain.
possibly becasue he continues to take bonuses while our stock plummets, and he's run our company into the ground.
his predecessors were great, and they made plenty. why would you assume i hate people who make money?
please explain.
the gov't has to dictate, at least in some areas, how private enterprise is run. and if a co took bailout money, their sr mgmt must not have been doing such a good job, right? why reward them?Then you have no damn clue how corporatism operated under Mussolini, IE labour and capital coming under the Iron fist of the state through corporates IE regulatory boards which would dictate how private enterprise is to operate.
can you in anyway back up that sweeping generalization? no?Libbos hate people that make money. That's no secret. It's why PBO got the Libbos vote with his wealth redistribution, tax the rich and give to the poor, mantra.
It's official we now live in a fascist corporatist state where school children are forced to sing the praises of Il Duce, the 4th estate is a branch of the white house press office, all dissenters are punished or preemptively threatened, and the state runs private enterprise through unelected, unratified czars.
**** you Obama you fascist POS.
Why? Because he's a bad manager? Makes too much money and you you hate people who make money? Why, in this the freest country in the world, should he be run out of town on a rail?
Please explain.
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