A Pay Czar

[spidey07]

So we need a special position to make sure people don't make more than the "correct amount"? This crap is getting way out of hand. And apparently it's starting to look like the idea of limiting compensation is more punitive then originally thought. Just how much more power is the government trying to take?

------------------------------------------
http://online.wsj.com/article/SB124416737421887739.html

"The Obama administration plans to appoint a "Special Master for Compensation" to ensure that companies receiving federal bailout funds are abiding by executive-pay guidelines, according to people familiar with the matter."

"Mr. Feinberg will report to Treasury Secretary Timothy Geithner, but he is expected to have wide discretion on how the rules should be interpreted. Firms likely won't be able to appeal decisions that Mr. Feinberg makes to Mr. Geithner, according to people familiar with the matter."

 

[Robor]

What is getting out of hand is faux outrage threads from people like the OP.

 

[Craig234]

Your solution to prevent the 'taxpayer bailouts going to big bonuses' political issue, and not bailing out companies is not allowed as your solution?

 

[spidey07]

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

You don't find this disturbing at all? It should be.

 

[BriGy86]

If we hadn't bailed anyone out this; and a lot of other issues, wouldn't be issues at all.

*EDIT*
Whoa, double time warp.

 

[techs]

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

QFMFT

 

[Phokus]

Originally posted by: spidey07

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

You don't find this disturbing at all? It should be.

I find it disturbing that you think execs getting bailout funds should go along with whatever compensation plan the board (which is in the pocket of the CEO's a lot of the time) deems fit. Why do you want to rob the taxpayers and why do you hate america?

 

[Genx87]

Originally posted by: Phokus

Originally posted by: spidey07

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

You don't find this disturbing at all? It should be.

I find it disturbing that you think execs getting bailout funds should go along with whatever compensation plan the board (which is in the pocket of the CEO's a lot of the time) deems fit. Why do you want to rob the taxpayers and why do you hate america?

I am pretty sure if upto Spidey none of those companies would have got a bailout.

 

[Genx87]

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

Who, craig?

God this msgboard is messed up lol

 

[Phokus]

Originally posted by: Genx87

Originally posted by: Phokus

Originally posted by: spidey07

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

You don't find this disturbing at all? It should be.

I find it disturbing that you think execs getting bailout funds should go along with whatever compensation plan the board (which is in the pocket of the CEO's a lot of the time) deems fit. Why do you want to rob the taxpayers and why do you hate america?

I am pretty sure if upto Spidey none of those companies would have got a bailout.

Yes well, if it were up to Spidey, the credit market would freeze and companies wouldn't even be able to make payroll. Then he'd scream at Obama for doing nothing while the world economy self destructs.

 

[spidey07]

Read the article and how it specifies they rules are convoluted and complicated and this Czar, all powerful, is the sole decider in how to interpret it.

 

[Robor]

Originally posted by: Genx87

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

Who, craig?

God this msgboard is messed up lol

Indeed... I was the first reply!

 

[rudder]

Originally posted by: spidey07

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

You don't find this disturbing at all? It should be.

Because it was said by The One. He is the messiah and can do no wrong.

 

[BriGy86]

Originally posted by: rudder

Originally posted by: spidey07

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

You don't find this disturbing at all? It should be.

Because it was said by The One. He is the messiah and can do no wrong.

Finished your Koolaid I see

 

[Robor]

Originally posted by: rudder

Originally posted by: spidey07

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

You don't find this disturbing at all? It should be.

Because it was said by The One. He is the messiah and can do no wrong.

 

[Moonbeam]

How come this thread is by Spidey and he is the third person to post?

 

[K1052]

This is definitely a problem that needs to be addressed but totally the wrong way to go about it.

 

[Steeplerot]

Originally posted by: Moonbeam
How come this thread is by Spidey and he is the third person to post?

The suck has reached critical mass and opened a temporal flux.

 

[waggy]

interesting.

deferentially something to keep an eye on.

 

[JeffreyLebowski]

Originally posted by: Phokus

Originally posted by: spidey07

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

You don't find this disturbing at all? It should be.

I find it disturbing that you think execs getting bailout funds should go along with whatever compensation plan the board (which is in the pocket of the CEO's a lot of the time) deems fit. Why do you want to rob the taxpayers and why do you hate america?

That question could be asked of many people like you. A lot of people said don't give bailouts and let things work themselves out. But they gave out tax dollars away only to have them not really do anything anyways.
The issue is we don't need more government intervention as all it does is promote irresponsibilty because now the companies that got bailouts know they are to big to be allowed to fail. Why are they going to change when they know the government will reluctantly give them more money again?
Why do we need another position as a "Pay Czar"? Didn't the companies that got bailouts sign anything that tied them to any terms of repaying or limiting salaries? If they did then the justice department lawyers and auditors should be the ones that oversee this. If not terms or contracts where signed, then it's the gov's fault for screwing that up.
Now that we have a Pay Czar, when will he be looking into other companies not under the bailout umbrella and be tasked with limiting the pay of successfull CEO's so they "don't go down the road of greed that AIG and Countrywide did"

 

[Phokus]

Originally posted by: JeffreyLebowski

Originally posted by: Phokus

Originally posted by: spidey07

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

You don't find this disturbing at all? It should be.

I find it disturbing that you think execs getting bailout funds should go along with whatever compensation plan the board (which is in the pocket of the CEO's a lot of the time) deems fit. Why do you want to rob the taxpayers and why do you hate america?

That question could be asked of many people like you. A lot of people said don't give bailouts and let things work themselves out. But they gave out tax dollars away only to have them not really do anything anyways.
The issue is we don't need more government intervention as all it does is promote irresponsibilty because now the companies that got bailouts know they are to big to be allowed to fail. Why are they going to change when they know the government will reluctantly give them more money again?
Why do we need another position as a "Pay Czar"? Didn't the companies that got bailouts sign anything that tied them to any terms of repaying or limiting salaries? If they did then the justice department lawyers and auditors should be the ones that oversee this. If not terms or contracts where signed, then it's the gov's fault for screwing that up.
Now that we have a Pay Czar, when will he be looking into other companies not under the bailout umbrella and be tasked with limiting the pay of successfull CEO's so they "don't go down the road of greed that AIG and Countrywide did"

Of course people who said 'let things work themselves out' are never honest about what would happen if we never bailed out the companies in the first place.

 

[Hacp]

Aren't they bound by law to not get paid above a certain amount anyways? How would a pay czar help? I'm guessing that Obama needed another high paying government job for a donor and this was the best idea he came up with.

 

[Jaskalas]

Originally posted by: techs

Originally posted by: Robor
What is getting out of hand is faux outrage threads from people like the OP.

QFMFT

Government abuse of power is certainly something to scoff at. Glad you stuck to your principles these past eight years.

 

[bobsmith1492]

What will likely happen is the execs who are really good will go work for non-bailed-out companies who can pay them more...

 

[Hayabusa Rider]

I can't wait for vB