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Bush Backs 'Unlimited Compensation' For Disgraced CEOs

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posted on Sep, 22 2008 @ 11:53 AM
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Bush Backs 'Unlimited Compensation' For Disgraced CEOs


thinkprogress.org

Today, the White House released a statement criticizing Congress’s potential plan to limit CEO compensation at the companies the federal government is bailing out, firmly standing against any “punitive measures”:

We certainly understand and are sympathetic to the sentiment regarding the pay of CEOs and senior management of these firms, but we have to focus on the problem, and the problem is that we need these firms to participate in the program and sell us this debt. Having punitive measures would provide a disincentive for firms to participate, and that would make the program much less likely to succeed.

(visit the link for the full news article)




posted on Sep, 22 2008 @ 11:53 AM
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The ever-recurring theme of Elitist protectionism at the expense of the tax-payer continues with this endlessly corrupt and criminalistic regime. I have never seen a more consistently blatant and disgusting contempt for the "little people" displayed by an administration than this. It's like the energizer bunny---It just keeps going, and going, and going...

They are going out with a bang.


In short, the Bush administration wants zero punishment for these wreckless CEOs who lost shareholder money and are now costing each person in the United States $2,000. In return for $700 billion, the White House has yet to name any ways that it will hold these corporations accountable or institute safeguards to ensure that this irresponsible lending and borrowing won’t happen again.

Furthermore, the White House is demanding that Congress give up its oversight powers for this deal and “place no restrictions on the administration other than requiring semiannual reports to Congress, granting the Treasury secretary unprecedented power to buy and resell mortgage debt.”




thinkprogress.org
(visit the link for the full news article)



posted on Sep, 22 2008 @ 11:55 AM
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Why did you put Unlimited Compensation in quotes when it wasn't in quotes in the article? Just wondering.

Yeah, what Bush and co. have done is beyond words. Of course they will try to weasel themselves out of punishment, and what's sad is that they will probably succeed.



posted on Sep, 22 2008 @ 11:57 AM
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Wait.. I thought we wew going to have a total financial meltdown worse than th egreat depression if we didn't offer these firms taxpayer money and keep them from going bankrupt... Now Bush is saying they might not sell us their debt if we're rude to them..?

WTF?



posted on Sep, 22 2008 @ 12:11 PM
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This is just beyond comprehension. The cojones are larger than anyone gives them credit for.

Unbleivable.



posted on Sep, 22 2008 @ 12:16 PM
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seems Bush loves communism for CEO's , but fascism for the common man

disgusitng



posted on Sep, 22 2008 @ 12:23 PM
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I wish I were the CEO of a failing major bank.

[edit on 22-9-2008 by mecheng]



posted on Sep, 22 2008 @ 12:27 PM
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Originally posted by manson_322
seems Bush loves communism for CEO's , but fascism for the common man



When a guy is right, he/she is right. Short, sweet, and to the point.

Very well stated and starred.



posted on Sep, 22 2008 @ 12:36 PM
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I hope CEO's take Bush up on his proposal and don't seek help from Uncle Sam's bottomless piggy bank. Thus keeping their bonuses in place and business failure a certainty. These people are captains of empires within capitalism, capitalism can also fail due to bad business practices which these guys seem to have hit the same iceberg.

Any thought or idea of a golden parachute or bonus arrangement should be shot down immediately. I made a comment in another thread that too many people took seriously about people in failing institutes earning the bonuses that are being held in escrow accounts for that purpose.

This is the way it has always been. A company fails, the board gets the stock options of the new company buying them or they raid every asset before it goes to court for bankruptcy. Only the factory floor guy or hourly worker gets hurt, no one on the management side suffers.



posted on Sep, 22 2008 @ 12:51 PM
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Letters of outrage sent to congressional and Senate representatives. I suggest everyone do the same. Even if it’s only a gesture at this point let your voice be heard.



posted on Sep, 22 2008 @ 12:52 PM
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Is this really a surprise to anyone???? The levels of corruption that we have been privy to? I am not surprised, just enraged.
Thanks DD, you always have great posts. S & F.



posted on Sep, 22 2008 @ 01:16 PM
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If we are tired of GOLDEN PARACHUTES for people that do a sub-standard job of leading ( CEO - COO - PRESIDENT ) then maybe we should start with the executive branch of the United States Government.

A leader can allow civilian hostages to be taken by the Iranian Government and sit back while we suffer from gas enbargos - can vomit on the leader of Japan - can get a little slobnobby under the oval desk - can lead us into a godforsaken "un-winnable as being fought currently" war and STILL get paid a pension from the citizens.

hmmmmmm





( that is PER YEAR )

Data collected

Dorian Soran


[edit on 22-9-2008 by Dorian Soran]



posted on Sep, 22 2008 @ 01:55 PM
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There is a way we can hold these high living CEOs, COOs, CFOs, and other executives accountable ... force them into the South Bronx and let the beatings begin.




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