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Administration Seeks an Out On Bailout Rules for Firms

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posted on Apr, 7 2009 @ 01:13 PM
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Administration Seeks an Out On Bailout Rules for Firms


www.washingtonpost.com

The Obama administration is engineering its new bailout initiatives in a way that it believes will allow firms benefiting from the programs to avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials.

The administration believes it can sidestep the rules because, in many cases, it has decided not to provide federal aid directly to financial companies, the sources said. Instead, the government has set up special entities that act as m
(visit the link for the full news article)




posted on Apr, 7 2009 @ 01:13 PM
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Well, this is just too funny

Where are the ObamaManiacs?


When the Bush administration announced the program in November, officials directed the Fed to apply the pay limits to the lenders because they stood to benefit the most from the program. "There was a public hunger for executive-compensation restrictions, and we knew we couldn't be tone-deaf to the politics there," a former Bush administration official said.




www.washingtonpost.com
(visit the link for the full news article)



posted on Apr, 7 2009 @ 01:16 PM
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How surprising...



posted on Apr, 7 2009 @ 01:38 PM
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You ever hear of the story about how if someone changes a contract (by crossing out something or adding something) after you have agreed to it, it nullifies the contract.

Well, the legislation put stuff up in no uncertain terms. Now that same legislation is going to change it.

Now even if we can't muster enough suspension of disbelief to accept that the congress and senate acted according to the wishes of the people when they set out to ensure the bankers remain rich and continue to grow richer, changing it now is just a egregious abuse of the fact that they will do whatever they have to to protect the international bankers who hold their careers in their hands.

The media always seem to paint the picture in terms of the people being jealous or resentful of the "lavish" pay of bankers. Frankly, someone needs to put them in their place..., the people have no problem with rewarding success; for God's sake, just look at professional sports....

What the people resent isn't the lavish pay.... it's the lavish pay for stealing from US, abusing the system where they can, and where they can't maneuvering political appointees into positions of authority to make that abuse possible.



posted on Apr, 7 2009 @ 03:01 PM
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yes a contract does get nullified
or you get can ammendments, but then you need another signature

but the govt. is exempt for course.... right?




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