Neil Cavuto destroys Congressman Grayson

I get NC's point, however, there are very large grey areas.

The reason they haven't set a limit is because of how departmental managers get targeted on 'new loans' per monht or week.

If that targetting system is flawed, which would ultimately contribute to a similar decline, it is wasting tax dollars even if 'the little people have nothing to sdo with it'. That's nonsense, selling loans and mortgages, being targetted on how many you sell is very bad business. Managers set unrealistic targets, push through paperwork that isn't check, but I'll tell you what happens befoer that...

Targets get pushed (HIGH!), corners are cut, checks aren't made as to the eligibility of the customer os to their affordabiliity, sound advice isn't always given and, ultimately, lending is often missold to the customer - A TAXPAYING CUSTOMER.

That is a key mechanic which has led to us ending up here!!!

That is what must be stopped.

We can't NOT make sacrifices at the bottom in order to save this situation - if we don't then we're doomed. Having the opposite attitude simply because execs have been greedy is something that will make this situation infinitely worse. All areas need ot be looked at.

While I disagree with giving the politician carte blanche to determine bonus levels (NOT PAY - THEY DIDN'T SAY PAY LEVELS) then I would be tempted as a long-term measure to take it on the chin until the banks are privatised again -and they will be.

Starred and flagged

Originally posted by pavil
reply to post by David9176

 

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What I find hilarious is that a Democrat can say with a straight face that he wouldn't put a number on what is excessive. So if a GM assembly line emplyoee make $55/hr would that be excessive? High wages overall are what have hampered the Auto industry. A Democrat just bascially would give the Treasury the power to bust the UAW pay contract, who woulda thought that?

THEY'RE NOT CAPPINGPAY - JUST BONUSES!!!!!!!!!!!!!

LISTEN AND USE THE EARS YOU WERE BORN WITH!!!!

reply to post by WISHADOW


See, I don't understand this kind of reaction against news anchors, particularly those employed by FOX news, and the hatred of FOX news in general, when they are the only ones asking questions of the walking chunks of scum that call themselves our leaders.

Cavuto has always seemed a pretty straight shooter, and spanks anyone that needs to be spanked when the opportunity is presented.

FOX is, as far as I know, the only network really digging to find out where and to whom all that multi-trillion dollar bailout money went, and actually took the Fed to court to get it.

Andrew Napolitano was on FOX as recently as yesterday opining that the Treasury's actions in forcing banks to take bailout cash DURING THE BUSH ADMINISTRATION (Sept of last year) was textbook extortion, and he said that it should be prosecuted.

So, kind forum members, help me understand how FOX is the pariah among news networks.

Thanks in advance for your kindness.

I thought Cavuto was rude, arrogant and unwilling to allow Grayson the opportunity of answering most of his questions. Let's face it - there was only one question - and that was pretty much answered almost straight away. Cavuto's loud interruptions did nothing to promote an intelligent interview.

More like Cavuto's rambling and repetive character suicide than Grayson's character assasination.

Great interview and yes I cracked up while watching it. This is just another example of our idiotic congress giving more and more power to officials not elected by the people in this case the Treasury Secretary. Not only does he want to give him more powers but not list any boundaries. Classic debate smack down but what annoys me is Cavuto when having a Republican on plays softball with them that is annoys me. He should treat both parties like what they are and that is treat them like thieves & criminals.

[edit on 2-4-2009 by mybigunit]

Originally posted by TailoredVagabond

Originally posted by pavil
reply to post by David9176

 

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What I find hilarious is that a Democrat can say with a straight face that he wouldn't put a number on what is excessive. So if a GM assembly line emplyoee make $55/hr would that be excessive? High wages overall are what have hampered the Auto industry. A Democrat just bascially would give the Treasury the power to bust the UAW pay contract, who woulda thought that?

THEY'RE NOT CAPPINGPAY - JUST BONUSES!!!!!!!!!!!!!

LISTEN AND USE THE EARS YOU WERE BORN WITH!!!!

after reading the first posts, i'm glad you brought this up, or i was going to. this is classic cavuto...he gets an idea in his head, and then when someone answers his question, he hears them, but doesn't listen to the words.
and as far as i'm concerned, if these companies are broken to the point of having to be taken over by the government, they should be able to set any damn pay scale they want. these companies have already shown they can't be managed, but cavuto seems to think they still should have some say as to how much they can be paid...
wall street has done such massive damage to our own people, and our country in general, that the corporate leaders and executive heads of these companies need to be put in prison and their ill-gotten gains confiscated. we have actually been way too soft on these people in my opinion.

[edit on 2-4-2009 by jimmyx]

It took over eight minutes for this guy to say nothing, right? All he did was pass the buck? I'll give Cavuto a little credit for asking over and over but I know little of him or most any of the talking heads supposedly giving us news. I see the clips here on ATS and that's all I have to go on. It's hard enough to watch ESPN with the insidious commercials, I can't watch television news where the commercials and the news are lies.

Why is it not so obvious to anyone this country has become a joke? One question, no answer, eight minutes. Our politicians are fools. We put them there, so what does that make us? For what it's worth I voted them all out, but that was probably futile. It didn't work, anyway.

Originally posted by TheLoony
It took over eight minutes for this guy to say nothing, right? All he did was pass the buck? I'll give Cavuto a little credit for asking over and over but I know little of him or most any of the talking heads supposedly giving us news. I see the clips here on ATS and that's all I have to go on. It's hard enough to watch ESPN with the insidious commercials, I can't watch television news where the commercials and the news are lies.

Why is it not so obvious to anyone this country has become a joke? One question, no answer, eight minutes. Our politicians are fools. We put them there, so what does that make us? For what it's worth I voted them all out, but that was probably futile. It didn't work, anyway.

fools? ...ok, so what's your big plan? c'mon we need details too. wall street was responsible for this ponzi scheme, you know, those brilliant business people that lied and cheated their way to riches. but apparently neil cavuto is pissed off at congressmen who don't have every answer on how to fix this at their fingertips, and have to talk in generalized terms.

Originally posted by TailoredVagabond

Originally posted by pavil
reply to post by David9176

 

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What I find hilarious is that a Democrat can say with a straight face that he wouldn't put a number on what is excessive. So if a GM assembly line emplyoee make $55/hr would that be excessive? High wages overall are what have hampered the Auto industry. A Democrat just bascially would give the Treasury the power to bust the UAW pay contract, who woulda thought that?

THEY'RE NOT CAPPINGPAY - JUST BONUSES!!!!!!!!!!!!!

LISTEN AND USE THE EARS YOU WERE BORN WITH!!!!

Please set your flaming aside and remember that this is still in the works.

S. 360: 111th Congress This is a bill in the U.S. Congress originating in the Senate ("S."). Cap Executive Officer Pay Act of 2009
A bill to limit compensation to officers and directors of entities receiving emergency economic assistance from the Government.

www.govtrack.us...

Originally posted by jimmyx


fools? ...ok, so what's your big plan? c'mon we need details too. wall street was responsible for this ponzi scheme, you know, those brilliant business people that lied and cheated their way to riches. but apparently neil cavuto is pissed off at congressmen who don't have every answer on how to fix this at their fingertips, and have to talk in generalized terms.

Your missing the point. Because this congressman isnt putting boundaries on the law hes trying to pass whos to say the government cant go after secretaries of the company or mailroom boys that is Neils point. He says he agrees what these guys did was wrong but list some boundaries. It was a lack of boundaries from all the bailouts that put us into having these debates in the first place.

Originally posted by jibeho

Originally posted by TailoredVagabond

Originally posted by pavil
reply to post by David9176

 

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What I find hilarious is that a Democrat can say with a straight face that he wouldn't put a number on what is excessive. So if a GM assembly line emplyoee make $55/hr would that be excessive? High wages overall are what have hampered the Auto industry. A Democrat just bascially would give the Treasury the power to bust the UAW pay contract, who woulda thought that?

THEY'RE NOT CAPPINGPAY - JUST BONUSES!!!!!!!!!!!!!

LISTEN AND USE THE EARS YOU WERE BORN WITH!!!!

Please set your flaming aside and remember that this is still in the works.

S. 360: 111th Congress This is a bill in the U.S. Congress originating in the Senate ("S."). Cap Executive Officer Pay Act of 2009
A bill to limit compensation to officers and directors of entities receiving emergency economic assistance from the Government.

www.govtrack.us...

well, apparently NEIL CAVUTO OF FOX NEWS didn't get your message and has to go on the air and throw insults at a democratic congressmen. all the republicans love this crap, and they wonder why they got thrown out of office...duh...

Originally posted by mybigunit

Originally posted by jimmyx


fools? ...ok, so what's your big plan? c'mon we need details too. wall street was responsible for this ponzi scheme, you know, those brilliant business people that lied and cheated their way to riches. but apparently neil cavuto is pissed off at congressmen who don't have every answer on how to fix this at their fingertips, and have to talk in generalized terms.

Your missing the point. Because this congressman isnt putting boundaries on the law hes trying to pass whos to say the government cant go after secretaries of the company or mailroom boys that is Neils point. He says he agrees what these guys did was wrong but list some boundaries. It was a lack of boundaries from all the bailouts that put us into having these debates in the first place.

what??? who's to say they can't go after secretaries and mailroom boys?
uhhmm...the laws that are being drafted says that... you know...that stuff that is actually being written down on a piece of paper.

reply to post by jimmyx


Not sure that I get your point. The problem is that no one has specified what the limits are.

This is from the Bill itself.

SEC. 4. COMPENSATION. As used in this Act, the term ‘compensation’ includes wages, salary, deferred compensation, retirement contributions, options, bonuses, property, and any other form of compensation or bonus that the Secretary of the Treasury determines is appropriate.

So, let's leave it all up to Geithner. I think not!!!!! He has been given way to much authority.

Here are some gems from Geithner in a recent CBS interview.

When asked if he would leave open the option to pressure a bank CEO to resign, Geithner replied: "Of course."

Geithner also skirted criticism that the Treasury Department still has no mechanism for tracking how banks have spent billions of dollars in TARP money, saying the doled out dollars were showing immediate results.

Maybe Obama should staff up the Treasury Dept. to help Geithner.

As of last week, 17 positions at department that require congressional approval remain unfilled. And "unfilled" is putting it lightly. Prospective candidates are avoiding the Treasury like drug-addled teenagers avoid their parents.

www.guardian.co.uk...

Originally posted by jimmyx


what??? who's to say they can't go after secretaries and mailroom boys?
uhhmm...the laws that are being drafted says that... you know...that stuff that is actually being written down on a piece of paper.

Ummm no actually its not being written down. These were the questions Neil was asking the congressman what boundaries are you going to set and the congressman replied we arent setting any we are leaving it up to the Treasury Secretary. Im sorry we left all the powers with the Treasury Secretary on the bailouts and we got this bonus issue because no boundaries were set. You might want to re listen to the interview and put your partisan ideology aside because this law could easily affect people who had nothing to do with the theft.

Originally posted by mybigunit

Originally posted by jimmyx


what??? who's to say they can't go after secretaries and mailroom boys?
uhhmm...the laws that are being drafted says that... you know...that stuff that is actually being written down on a piece of paper.

Ummm no actually its not being written down. These were the questions Neil was asking the congressman what boundaries are you going to set and the congressman replied we arent setting any we are leaving it up to the Treasury Secretary. Im sorry we left all the powers with the Treasury Secretary on the bailouts and we got this bonus issue because no boundaries were set. You might want to re listen to the interview and put your partisan ideology aside because this law could easily affect people who had nothing to do with the theft.

ok...the reason they are having a hard time defining boundaries is simply because of what you said in the last sentence above..."this law could easily affect people who had nothing to do with the theft"...this is exactly why it probably has to be taken on a case by case basis...example: a mid-level manager recieved a bonus of $10,000 for his effort in cutting costs and streamlining his own department, a department that had nothing to do with lending or investment practices of the company...well...he might be exempt from having his bonus taken away. and this is why it is hard to come up with a set boundary on compensation.

[edit on 2-4-2009 by jimmyx]

The Congress is clueless, this Grayson bill is just another bill pandering to the voters, unlike the crazy 90% taxed bonus bill which the house passed in a fury of feigned surprise, this bill isn't even a slap on the wrist, and leaves all authority in the hands of the executive branch, another bad idea.

Talk about going from one extreme to the other, this is only for those who are going to be up for election in 2010, nothing more nothing less.

Read this article and tell me how many holes you see in this brilliant bill by our elected.



Here's one I spotted by the house finance chairman:

Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said the bill would apply only to institutions that receive money through the government's $700 billion Troubled Asset Relief Program and would not automatically extend to others that participate in other TARP-related programs, including Obama's new public-private investment program.

emphasis:mine

nice little word automatically slipped in which means it will extend to other programs, I guess whenever the people get outraged again..



I wonder if Congress would be so unspecific if they were passing legislation to limit what attorney's make.....

Originally posted by jibeho

Originally posted by TailoredVagabond

Originally posted by pavil
reply to post by David9176

 

\

What I find hilarious is that a Democrat can say with a straight face that he wouldn't put a number on what is excessive. So if a GM assembly line emplyoee make $55/hr would that be excessive? High wages overall are what have hampered the Auto industry. A Democrat just bascially would give the Treasury the power to bust the UAW pay contract, who woulda thought that?

THEY'RE NOT CAPPINGPAY - JUST BONUSES!!!!!!!!!!!!!

LISTEN AND USE THE EARS YOU WERE BORN WITH!!!!

Please set your flaming aside and remember that this is still in the works.

S. 360: 111th Congress This is a bill in the U.S. Congress originating in the Senate ("S."). Cap Executive Officer Pay Act of 2009
A bill to limit compensation to officers and directors of entities receiving emergency economic assistance from the Government.

www.govtrack.us...

...Please put me straight here but is the key word executive or not - especially when a bonues is equivalent to pay increase and none of the document includes powers to reduce pay???

How about this for an incentive...

Work hard. Make your company profitable. SO much so it can buy itself back. Return to bonus-time. Live happily ever after.

I dont' see wht taxpayers should foot 10-20% extra of the wage bill in 'feel-good' policies for bailed out (poor) companies. Sure they need to retain people but the incentive must lie after privatisation - SURELY. No???

He keeps saying the Treasury determining the cutoff for "unreasonable compensation" is constitutional?

The fed.gov bailing businesses out is unconstitutional.

The entire fed.gov at this point is unconstitutional.

I also find it amazing that this new Congressman was very very vocal when he was bringing lawsuits against gov't contractors and wasted taxpayer money only a short time ago:

www.businessandmedia.org...

Now, not a big deal to hand over carte blanche to the executive branch concerning this bill.

If he didn't trust the govt dealing with with taxpayer money then how can he hand over that kind of power which could affect taxpayers now?

It's a trainwreck, hopefully the Senate will add the necessary language to create the limitations needed, if they pass it.

A better solution would be to reject this garbage and get a grip

I think this whole argument misses the point. These are all symptoms of using tax money for bail outs that shouldn't have happened in the first place.

If they never received tax money to begin with, they wouldn't be giving themselves bonuses with it!

NO BAILOUTS & LETTING COMPANIES FAIL > OVER-REGULATION