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The Obama administration stunned Wall Street on Wednesday by ordering massive pay cuts for top executives at seven financial firms that still hold billions in U.S. government bailout funds.
The move – which would lower average cash compensation by 90 percent — means the administration is making a frontal assault on Wall Street’s gold-plated compensation culture at a time of growing public anger over the firms’ massive pay and bonuses.
Originally posted by poedxsoldiervet
reply to post by Avenginggecko
Does anyone else see a problem with that? THE GOVERMENT IS CUTTING A PRIVATE FIRMS PAY....
A BAILOUT THAT THE people never wanted in the first place.
Originally posted by Avenginggecko
I'm not so sure. This is a pretty big event, seeing as how it hasn't happened before (that I know of). It's kind of setting a precedent and it shows that the government is, in fact, changing the way business is done in the states.
Originally posted by dooper
Based entirely on performance, I think our White House officials should be paying the American people.
A group of Marxists, bent of destroying capitalism.
I don't believe that even one of them has ever had an honest job.
Underachievers to be certain.
Originally posted by lucentenigma
What more proof do the masses need to see that the current administration has a Marxist agenda?
While I believe that these bankster/executive scum should not be paid outrageous salary's/bonuses the government should not be the ones to do it.
These corporations should have been left to fail and let the free market do it's thing
Originally posted by VitalTimes
reply to post by HunkaHunka
They did not take our money. We gave it to them. Now some of them screwed us this is true, but at least we had the choice to give it to them or not. This is unlike the government who will take our money whether we desire it or not, aka taxation. Then they screw us too. So at least I would rather have choice.