Frank wants total control of bailed out companies

[nobodyknows]

Originally posted by: dphantom

Originally posted by: Billb2
You're all wrong.

If the government doesn't step up to the plate and act as the shareholders that they are, the boards and CEOs of the bailed out companies will be running wild. They will be responsible to no one. If You think the bonuses and golden parashoots have been ridiculous so far, then what do you think they'd be like without the biggest shareholder's control?

That's the point. The government should not be in the role as a major or even minor shareholder. There is a process already available for companies that fail. It's called bankruptcy and there is an entire group of highly experienced attorney's, CPAs and judges who do this for a living.

Then let these companies file for bankruptcy instead of taking government money. In the end it their call, isn't it?

 

[Genx87]

Originally posted by: Corn

Originally posted by: Genx87
These people are flatout power crazed lunatics.

Was there ever any doubt about that fact? Unfortunately this is what the American people wanted, hence why this is happening. Obama and his merry men are well on the way to presenting themselves as total disasters when compared to Bush--how the hell is that even possible?

Obama is going to eclipse 8 years of Bush deficits in 2 years. Obama, who has no experience, staffs an automotive task force with people who have no automotive manufacturing experience, 20% of which don't even own automobiles--and they're tasked with "saving" the American automotive industry? What kind of sick joke is that? And now this, the topic of the OP. For Obama's next trick? How about fucking up our already fucked up health care system? I can't wait.

Dont worry, I heard Obama will be staffing the healthcare task force with Auto execs.

 

[LTC8K6]

Then let these companies file for bankruptcy instead of taking government money. In the end it their call, isn't it?

Retroactive...that means it wasn't in place when they took the money. How can you make the proper call with retroactive changes?

GM is now considering declaring bankruptcy anyway. Thanks for all the money, and goodnight!

http://littlegreenfootballs.co...Declare_Bankruptcy_Now

 

[boomerang]

Originally posted by: Genx87

Originally posted by: Skoorb
What exactly IS the fvcking point of this legislation, btw? Is it just to act as a governmental pitch fork? Does anybody really believe that excess compensation, as ridiculous as it has been, is the reason for what's going on now?

No but it is a great lightning rod issue that will get the avg sheeple to cheer with glee when the govt swoops in and takes from their neighbors right before they stop by and take from them.

No, no, no, it's only the mean rich people that they're taking from! They're bad because they have more than I do! Uh, I meant we do.

You just don't understand. I mean it's only what's fair!

Get your bumper sticker here before the website gets shut down. I'm kidding, but one never knows with this administration.

Link

 

[boomerang]

Be sure to send ol' Barney a Happy Birthday email today! I hope he has time to blow the candles out on his 69th birthday cake.

 

[Corn]

I wonder if Barney would submit his pay structure to the same standards - say performance tied to the budget defecit.

 

[Genx87]

Originally posted by: Corn
I wonder if Barney would submit his pay structure to the same standards - say performance tied to the budget defecit.

Sadly knowing that fatfucks ideology he would be receiving unprecendented bonus's for helping pass the biggest deficits this country has ever seen.

 

[JS80]

Originally posted by: Corn

Originally posted by: Genx87
These people are flatout power crazed lunatics.

Was there ever any doubt about that fact? Unfortunately this is what the American people wanted, hence why this is happening. Obama and his merry men are well on the way to presenting themselves as total disasters when compared to Bush--how the hell is that even possible?

Obama is going to eclipse 8 years of Bush deficits in 2 years. Obama, who has no experience, staffs an automotive task force with people who have no automotive manufacturing experience, 20% of which don't even own automobiles--and they're tasked with "saving" the American automotive industry? What kind of sick joke is that? And now this, the topic of the OP. For Obama's next trick? How about fucking up our already fucked up health care system? I can't wait.

I can't wait until Obama fucks our health care system. It will provide to be the catalyst of the revolution and we can get rid of our politician and start fresh. Govt controlling our health and lives will lead to it's demise IMO. Imagine an underground rebel group forming and mobilizing through the internet, and Military personnels' families suffering from the new govt healthcare, perfect storm brewing to overtake the govt. First course of action would be to humiliate Barney Frank on national TV. No we are not Stalin/Che. We will strip him naked, stuff an apple in his mouth and a banana up his ass and have people throw pie while he walks down the capital.

 

[boomerang]

Originally posted by: JS80

Originally posted by: Corn

Originally posted by: Genx87
These people are flatout power crazed lunatics.

Was there ever any doubt about that fact? Unfortunately this is what the American people wanted, hence why this is happening. Obama and his merry men are well on the way to presenting themselves as total disasters when compared to Bush--how the hell is that even possible?

Obama is going to eclipse 8 years of Bush deficits in 2 years. Obama, who has no experience, staffs an automotive task force with people who have no automotive manufacturing experience, 20% of which don't even own automobiles--and they're tasked with "saving" the American automotive industry? What kind of sick joke is that? And now this, the topic of the OP. For Obama's next trick? How about fucking up our already fucked up health care system? I can't wait.

I can't wait until Obama fucks our health care system. It will provide to be the catalyst of the revolution and we can get rid of our politician and start fresh. Govt controlling our health and lives will lead to it's demise IMO. Imagine an underground rebel group forming and mobilizing through the internet, and Military personnels' families suffering from the new govt healthcare, perfect storm brewing to overtake the govt. First course of action would be to humiliate Barney Frank on national TV. No we are not Stalin/Che. We will strip him naked, stuff an apple in his mouth and a banana up his ass and have people throw pie while he walks down the capital.

He'd like the banana.

 

[smack Down]

Originally posted by: LTC8K6

Then let these companies file for bankruptcy instead of taking government money. In the end it their call, isn't it?

Retroactive...that means it wasn't in place when they took the money. How can you make the proper call with retroactive changes?

GM is now considering declaring bankruptcy anyway. Thanks for all the money, and goodnight!

http://littlegreenfootballs.co...Declare_Bankruptcy_Now

The loan said the terms where subject to change. If they didn't like that they could have refused the money.

 

[StageLeft]

Originally posted by: smack Down

Originally posted by: LTC8K6

Then let these companies file for bankruptcy instead of taking government money. In the end it their call, isn't it?

Retroactive...that means it wasn't in place when they took the money. How can you make the proper call with retroactive changes?

GM is now considering declaring bankruptcy anyway. Thanks for all the money, and goodnight!

http://littlegreenfootballs.co...Declare_Bankruptcy_Now

The lone said the terms where subject to change. If they didn't like that they could have refused the money.

If that's the case, maybe they trusted the gov wouldn't make up silly rules after. It is perfectly precedented that two lucid parties who agree to a deal can still have it cancelled in court if one part of it is later deemed completely retarded.

 

[sandorski]

People are pissed that the Bailouts were going towards excessive Bonuses. People are pissed now that the Government is doing something about it.

 

[chess9]

Some thoughts:

1. Something like this, but less draconian certainly should have been done up front;
2. Without some standard of reasonableness Geithner will continue to give away the store. Why should a CEO make more than the President of the United States? Some should, but they are very few in number, IMHO. I'd say $500,000 ought to be reasonable salary, plus some limited perks, for a CEO. Anything more, should required exceptional circumstances.
3. The government will do a horrible job of overseeing the pay of these bailout companies. Treasury is making all the wrong decisions on the big stuff! How can we expect them to gather in the minutiae?
4. Frank is a certifiable lunatic. I bet he can't balance his own checkbook. I supported him for years, but now he's become a silly goose, and it's hunting season.

-Robert

 

[Budmantom]

Originally posted by: sandorski
People are pissed that the Bailouts were going towards excessive Bonuses. People are pissed now that the Government is doing something about it.

Not so simple,

The drones were pissed at the execs that got the bonuses, the people that have the ability to think for themselves were pissed at our government for the bailout without oversight (I thought Obama said he would have oversight of these bailouts?).

The government could have done plenty like know what they are voting for, they chose to retroactively socialize the private sector.

 

[ProfJohn]

More proof that the best way to get the Democrats OUT of power is to leave them IN power.

They seem to be hanging issue after issue to the Republicans. The next election will almost certainly be one of ideology.

 

[trenchfoot]

I like this thread so far.

Anathema and catharsis all rolled into one.

I'm selling Obama voodoo dolls if any of you are interested.

 

[FerrelGeek]

Somebody please! Enlighten me as to ANY program that the government runs well. What idiot on this board actually thinks that the government (many of the people who infest it having never held a real job in their life) can run a real business?

 

[Moonbeam]

Originally posted by: tweaker2
I like this thread so far.

Anathema and catharsis all rolled into one.

I'm selling Obama voodoo dolls if any of you are interested.

I would suggest selling them this.

 

[Tom]

Originally posted by: FerrelGeek
Somebody please! Enlighten me as to ANY program that the government runs well. What idiot on this board actually thinks that the government (many of the people who infest it having never held a real job in their life) can run a real business?

fire dept

seriously, government and business are just ways to organize people to accomplish something, each has advantages and disadvantages.

btw, if private enterprise is so great, there's no need for bailouts.

 

[rudder]

I think he just wants a booty call from the ceos.

 

[Budmantom]

Originally posted by: Tom

Originally posted by: FerrelGeek
Somebody please! Enlighten me as to ANY program that the government runs well. What idiot on this board actually thinks that the government (many of the people who infest it having never held a real job in their life) can run a real business?

fire dept

seriously, government and business are just ways to organize people to accomplish something, each has advantages and disadvantages.

btw, if private enterprise is so great, there's no need for bailouts.

I'll type real slow so you understand, with private enterprise good don't need a bailout, poorly run companies should fail.

 

[Moonbeam]

Originally posted by: Budmantom

Originally posted by: Tom

Originally posted by: FerrelGeek
Somebody please! Enlighten me as to ANY program that the government runs well. What idiot on this board actually thinks that the government (many of the people who infest it having never held a real job in their life) can run a real business?

fire dept

seriously, government and business are just ways to organize people to accomplish something, each has advantages and disadvantages.

btw, if private enterprise is so great, there's no need for bailouts.

I'll type real slow so you understand, with private enterprise good don't need a bailout, poorly run companies should fail.

Oh look, a zombi.

 

[trenchfoot]

Originally posted by: Moonbeam

Originally posted by: tweaker2
I like this thread so far.

Anathema and catharsis all rolled into one.

I'm selling Obama voodoo dolls if any of you are interested.

I would suggest selling them this.

Oh man, my grommet puckered up and popped a hemorrhoid the moment that page came up. Ok, I'm stocking that item as I'm posting this, but some folks in this thread that I wann'a sell it to is gonn'a have to have a model that is capable of pushing 500 psi @ 10 gps.

 

[LTC8K6]

The loan said the terms where subject to change.

It certainly didn't say one party could change the terms at will and retroactively.

However, if it did say that, then anyone who agreed to it is too stupid to manage their company anyway.

 

[Moonbeam]

Total control sounds really scary. I may have to tell my Mommy about this.