GOP Opposes Pay Limits On Bailed-Out Bankers

Originally posted by Benevolent Heretic
Of course the GOP disagrees with it. Too bad.

[edit on 6-2-2009 by Benevolent Heretic]

Read the whole story before you make blanket statements, BH. The headline is also in conflict with what's in the bottom of the story itself. NOT ALL of the GOP disagrees with it so your statement is a falsehood perpetuated by ignorance.

Opposition isn't uniform. Beyond Brownback, other Republican senators spoken to for this article, including Sens. Coburn, Richard Lugar (R-IN) and Orrin Hatch (R-UT), expressed some support for a government effort to control the salaries of executives of banks that take bailout money.

At least one Republican has thought about the plan and come around to it. "In theory, I don't like it. I just don't like the government telling private industry how to run their businesses," said Sen. John Thune (R-SD) when first asked about it.

About fifteen minutes later, Thune had changed his mind. "You know what? I think I'm for that," he said of Obama's plan. "I don't disagree with what he's doing."

I'm conservative yet I agree with the pay caps on those salaries as well, because its taxpayer money, OUR money. If these were legitimate profits the companies had made then I would agree that government has no business telling them how much they can limit pay for an executive or a mailroom clerk. But these aren't profits or even private loans, these are government handouts funded by us. Your damned right I support pay caps on these slimeballs, especially when they demonstrate that all they know how to do is run their own business into the ground.

[edit on 7-2-2009 by sos37]