Barney Frank - Extend TARP to all businesses

OMG!! OMG!! Barney Frank and Giethner strike again -

Financial Week

Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said.

He said the compensation restrictions would apply to all financial institutions and might be extended to include ALL U.S. companies .

.... Treasury Secretary Timothy Geithner said last month that he might try to extend to ALL U.S. companies a restriction that prohibits bailout banks from taking a tax deduction of more than $500,000 in pay for each executive.

Mr. Geithner said he would consider “extending at least some of the TARP provisions and features of the $500,000 cap to U.S. companies generally.”

And then we have this - where they are so concerned with pay caps to Americans but want to strengthen the NWO World Bank -

.... The committee also will review proposals to assist struggling homeowners and expand the housing supply, and to strengthen international financial institutions such as the World Bank, he said.

Is there any doubt now? Atlas is shrugging.

Barney Frank is a moron.

He is responsible for a large chunk of the mess this country is in now and if his constituents have any brain cells at all, he will be voted out next time around.

I have 5 hours to come up with $860 in property taxes and another 14 days to come up with $2,600 in self employment tax. I made well under $30K last year so I wouldn't mind a fraction of what the big corporations got. $20 K would be just ducky. For another $200 K I would be debt free and that would be good for America. I could then put real money into my local economy. Bailout the small guys.

The only response to a constitutional assault of such magnitude is... humour.

Barney Frank: A Fred Flintstone lookalike who isn't going to be happy until America hits bedrock.

Originally posted by 44soulslayer
The only response to a constitutional assault of such magnitude is... humour.

You are right. It IS a constitutional assault. This is anti-constitution. This is anti-Republic. This is anti-free market. This is pro-NWO. Oh well ... Who is John Galt?

Originally posted by FlyersFan

Originally posted by 44soulslayer
The only response to a constitutional assault of such magnitude is... humour.

You are right. It IS a constitutional assault. This is anti-constitution. This is anti-Republic. This is anti-free market. This is pro-NWO. Oh well ... Who is John Galt?

Interesting link. "Black Mussolini"? that kills me. The John Galt site link in your sig has some neat charts. Looking at the MACD lines I don't think we will see an upward cross for many years. We are being cellar boxed so the new monetary system looks like a great buy when the time comes.

"The Military and the Monetary.
Get together whenever they think its necessary,
they've turned our brothers and sisters into mercenaries,
they are turning parts of the planet, into a cemetery."
-Gil

reply to post by FlyersFan


Because we are not doing anything to stop all this my friend, our only choice is to right the wave.

Maybe we ought to start petition the ACLU and other organizations, even businesses themselves, to start filing lawsuits on the legislation being passed based on unconstitutionality.

Just a suggestion.

I don't think anyone in their right mind would listen to anything this man says right now. I would imagine that the people in DC are working on distancing themselves from him.

He is on his last leg and is no longer able to push his agenda. He has been called out publicly and has been found wanting.

MORE ..

DC Examiner - A bill to let government set your salary.

The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.

The purpose of the legislation is to "prohibit unreasonable and excessive compensation and compensation not based on performance standards," according to the bill's language. That includes regular pay, bonuses -- everything -- paid to employees of companies in whom the government has a capital stake, including those that have received funds through the Troubled Assets Relief Program, or TARP, as well as Fannie Mae and Freddie Mac.

The measure is not limited just to those firms that received the largest sums of money, or just to the top 25 or 50 executives of those companies. It applies to all employees of all companies involved, for as long as the government is invested. And it would not only apply going forward, but also retroactively to existing contracts and pay arrangements of institutions that have already received funds.

In addition, the bill gives Geithner the authority to decide what pay is "unreasonable" or "excessive." And it directs the Treasury Department to come up with a method to evaluate "the performance of the individual executive or employee to whom the payment relates."

reply to post by FlyersFan


Can we honestly pitch a fit about this administration yet? Can we do it without being labeled racist and vitriolic and hateful and bigoted?

This country is going to hell in a handbasket...... :shk:

reply to post by 44soulslayer


Thanks, I needed that.

Laughter, THE best medicine>

I had not made that connection, myself. Thanks for pointing it out.

"WEesh shouldsh takesh the powersh of businessh."

"Stopsh the bonusesh."

"Increasesh governmentsh."

reply to post by 44soulslayer


It's taken Fred a few decades but now he has the power to take it to Mr Slate...

Too bad he is going to do it on the backs of the taxpayer.

Oh, someone said why doesn't his constituents vote him out of office?

They had a great chance last November, looks like they keep voting him in to keep him out of the state. And that's being easy on the Mass voters, it's scary to think that they honestly think he is the right man for the job..

It wouldn't be the only example of voter ignorance, just look to the nation's capital, they keep voting in the criminal Marion Barry, sometimes all you can do is shake your head and be glad you don't live there.

Thanks for the laugh 44soulslayer, you are right we need more gallows humor, even the President thinks so...

No one is forcing these companies to take this TARP money. The problem isnt just the government. We all know the government wants to be big. But they cant get big unless we allow them to. Im sorry Id rather go bankrupt than accept any money from the government but its obvious that most corporate leaders dont think that way anymore. They love that government cheese but then they dont want the strings that come attached. So here is an idea when the government approaches you and offers you money you tell them hell no Id rather go into chapter 11 and work a little extra harder and take cuts than get government welfare. How many you think will turn down the money?

Originally posted by FlyersFan

You are right. It IS a constitutional assault. This is anti-constitution. This is anti-Republic. This is anti-free market. This is pro-NWO. Oh well ... Who is John Galt?

Who is forcing companies to accept the government welfare. The problem is people dont know what being an American is anymore. You used to take your lumps and get up and fix the situations on your own. Now people take a hit then go to the government for some cheese. WE are the problem because WE allow the government to buy us off.

that's wonderful news
see my grandkids just lost more money last weekend than they took in doing a lemonade sale...

now they can apply for a bail out and become billionaire second graders! Don't see why they shouldn't have the money... they are going to be the ones still paying off this joke... besides maybe they'll give ole grandpa a bonus for filling in the paper work for them? That and I did drink up a lot of their product

What part of no more bailouts do they not understand? These Idiots just don't get it. BOSTON TEA PARTY HERE I COME

Originally posted by mybigunit
No one is forcing these companies to take this TARP money.

Did ya' see the headline? It says that Barney Frank - and Obama's Timmy - want to extend this to ALL BUSINESSES .. not just those that took TARP money from us taxpayers.

They want to extend the pay caps, etc to ALL BUSINESSES GENERALLY.

That's all the big name companies. Not just those that took bailouts.

[edit on 3/31/2009 by FlyersFan]

Originally posted by FlyersFan

Originally posted by mybigunit
No one is forcing these companies to take this TARP money.

Did ya' see the headline? It says that Barney Frank - and Obama's Timmy - want to extend this to ALL BUSINESSES .. not just those that took TARP money from us taxpayers.

They want to extend the pay caps, etc to ALL BUSINESSES GENERALLY.

That's all the big name companies. Not just those that took bailouts.

[edit on 3/31/2009 by FlyersFan]

Right I know that it says and Im saying as a business I wouldnt take any money from the government and neither should any other business. Of course the government wants to extend it to other businesses because government wants to grow. We as Americans need to say NO to the government but unfortunately we have welfare victims for corporate leaders anymore and they will accept the government cheese and then they complain when the government takes over. Self responsibility and hard work is gone in America people just want the easy way out.