Obama to call for increased oversight of 'executive pay at all banks, Wall Street firms and possibly other companies'

[LTC8K6]

What about Wells-Fargo?

They did not want or need TARP funds.

They were forced to take them.

Now they are forced to undergo outside "stress tests" because of TARP money they didn't want.

Now they will be subject to salary and bonus caps because of TARP loans they wanted nothing to do with.

 

[charrison]

Originally posted by: LTC8K6
What about Wells-Fargo?

They did not want or need TARP funds.

They were forced to take them.

Now they are forced to undergo outside "stress tests" because of TARP money they didn't want.

Now they will be subject to salary and bonus caps because of TARP loans they wanted nothing to do with.

And to make matters worse, there is currently now way for them to return tarp funds.

 

[LTC8K6]

http://www.powerlineblog.com/a...ves/2009/03/023129.php

 

[Andrew111]

The government reaction to this meltdown is only making matters worse IMO. The truth of the matter is that the government runs things worse than the private sector so everyone who thinks increased government meddling is going to help is sadly mistaken. First it was stimulating the economy with the pork bill where most of the spending won't even occur until 2010, now the financial industry is going to be saddled with draconian regulations and be stripped of its former self and we'll be lucky to still be the pre-eminent finance capital of the world in the near future......London would love to take our place or Dubai, etc. The finance industry was a significant driver of economic growth in our country......but yes they took too many risks and came up with convoluted products that led to the unforeseen collapse. We must learn from it, get better oversight, and impose regulations so it doesn't happen again. The problem is that the government is overstepping itself and will ultimately slow down the economic recovery.

 

[JSt0rm]

Originally posted by: charrison

Originally posted by: LTC8K6
What about Wells-Fargo?

They did not want or need TARP funds.

They were forced to take them.

Now they are forced to undergo outside "stress tests" because of TARP money they didn't want.

Now they will be subject to salary and bonus caps because of TARP loans they wanted nothing to do with.

And to make matters worse, there is currently now way for them to return tarp funds.

the entire banking industry is going to be rocked because of this. Do you think that wells fargo just because they say they are ok will be allowed to be as big as they are. ALL these banks need to be broken up into tiny little fucking things that can be crushed without a front page story.

 

[palehorse]

Originally posted by: Andrew111
The government reaction to this meltdown is only making matters worse IMO. The truth of the matter is that the government runs things worse than the private sector so everyone who thinks increased government meddling is going to help is sadly mistaken. First it was stimulating the economy with the pork bill where most of the spending won't even occur until 2010, now the financial industry is going to be saddled with draconian regulations and be stripped of its former self and we'll be lucky to still be the pre-eminent finance capital of the world in the near future......London would love to take our place or Dubai, etc. The finance industry was a significant driver of economic growth in our country......but yes they took too many risks and came up with convoluted products that led to the unforeseen collapse. We must learn from it, get better oversight, and impose regulations so it doesn't happen again. The problem is that the government is overstepping itself and will ultimately slow down the economic recovery.

This.

 

[spidey07]

I'm not surprised. Obama, Frank and Geitner have frequently said they support such measures and it was part of Obama's campaign. This shit is getting WAY out of hand.

 

[her209]

I think all CEOs should be held criminally liable for any/all statements they make about their companies.

 

[Double Trouble]

Hey, the general public voted loud and clear that they supported socialism for this country. Now we're getting it. Unfortunately, these kind of utopian socialist messages are easy to sell to stupid people, so the vast majority of idiots (including most of the general media) will happily go along with it.

Bush assaulted the constitution in the name of national security, now Obama & co will finish the shredding in the name of "fixing" the economy. Sad indeed.