White House to Cut Executive Pay at Bailed-Out Firms

OK. What is fair is fair. The Marxists are cutting the pay of capitalists by 90% because they ran their companies into the ground and had to be saved by the US tax payer - because our elected officals forced us to save them rather than letting them go bankrupt. I say we, the US taxpayer and now owners of these ruined companies, have bailed out congress too many times too - as they have run up $23 trillion in on book debt spending money on anything and everything no sane person would ever want and $55 Trillion in off book Social Security and Medicare unfunded benefits that has bankrupted the country. We have bailed our elected officials out for the last time too.

It is time to cut all federal employee salaries, including our elected officials, by 90% until the debts they have run up are paid off and the US taxpayer is made whole.

What is fair for the goose is mandatory for the gander.

If Congress is doing a really lousy job, then they just vote themselves a pay raise.

who is going to bail out the average tax paying citizen. I say let the BIG BOYS go hi and dry and bail us out

Not only did we have to bail them out,now the Obama administration has to spend their time dealing on running their businesses.

The laws of physics says that for every action there is an equal and oposite reaction. As the corporate elite Grossley increased their own wages, the workers gave away their wealth. The Gross abuse by the corporate elite over the last 30 years is The cause of this mess. As the elite gave themselves huge wage increases they cut wages to compensate for the lack of profit their companies were showing. The stagnant wages experienced by the middle class caused the middle class to rely on "home Equity" to sustain their standard of living. Wages have fallen not risen compared to the true inflation when you include food and energy, since 1989. You can cite the government sources all you want. The truth is, if we had made what we should have compared to the amount of money this country has generated we all would have had little problem paying our mortgages. The big ceos, stock holders, bankers, foreign products, wallmart i.e.(jobs shipped over seas) and taxes have taken way more money out of the system than they deserved and have left the workers without the means to survive, all for greed. The housing bubble was an attempt by the big banksters and wall street to give a false sense of income via home equity. The big banksters pulled that equity out from under our feet. The world aristocrats are buying up whatever they can right now at bargain basement prices. Go back to school? The people most hurt by this are raising families trying to make ends meet. How in the world are you suppose to just stop supporting your kids and go to school? Join the military? I will join my local anarchist militia. If you are so naive as to think this whole fiasco was not orchestrated then you need to go back to school.

If the Republicans had any integrity like the Teddy Roosevelt years, they would have never allowed Wal-Mart to undermine the small business in America. They would have filed anti trust suits against the banksters, the Healthcare industry, the oil industry, the media, the global corporatists. They would have forced these huge conglomerates to split and become more competitive. They would have used tariffs to create an equal world trade market. I give you the pharmaceutical industry as an example. Why do Americans pay 3-7 times as much for any medicines as every other country in the world? Because they know they can get that money without fear of an uprising. The people are brainwashed by the two party systems. One says they are for the small guy the other says they are for small government. Neither helps the average American only the elite moneychangers. This same scenario played out during the end of the 19th century and into the 20th. The Rockefellers, Getty’s, Morgans and the oil barons had this country enslaved by their wealth. The Republicans trashed that plan and created a more competitive market. The same thing has happened again. The ultra wealthy have gained control of most of the wealth in our country thereby enslaving its people. Unfortunately, Now, today the Republican party has gone to bed with them. Where do you think all of those extremely gross bonuses come from? Well I suppose it gets passed on the the consumers in highwer prices of everything.

Every corporate executive's wages should be cut more like 95% and the cost of goods and services which have been exhorbitantly raise need to be dropped back 99% so that Americans can afford to live again.

What this administration is attempting is UNCONSTITUTIONAL AS HELL. I don't believe these people are worth what they are BEING PAID, But It Is Not Up To The Government To Dictate Salaries. THIS IS NOT RUSSIA !!!!YET!!, BUT WE ARE FAST GETTING TO BE JUST LIKE RUSSIA !!!!!!!!

Brilliant. Ever worked at a company that has decided it's not going to pay the going rate for talent? Know what you end up with? Just what you pay for.

Despite the record unemployment rate, you don't find a lot of good upper management material hanging posting their resume's at monster.com. That's because the kind of folks who can actually get a company through tough times like this still command a premium wage.

This is what liberalism is all about. Through logic to wind so that you can "make a statement" and do something that feels right.

Then again, if you want companies to fail so you can scoop up the leavings and turn it into some sort of quasi-public/private entity, this is a pretty good way to achieve that goal.

Just remember all of you who think this is a brilliant idea - the day will come when they will confiscate your money and when they do - no whining!

bb,

The 'big Boys' Chinese aren't that stupid.

They have made these execs the sacrificial lambs to make it look like they have accomplished something for the average American. Politically it makes a lot of sense, but from a business standpoint, if the witch hunt continues(and it will),it does more harm than good. The simple fact is that wealthy people spend more money and invest more money which drives the economy and increases non-government employment. Cutting an execs pay isn't going to bring anybody's job back. It isn't going to help the foreclosure problem. It isn't going to reduce your taxes. It isn't going to reduce the debt. It isn't going to do a damn thing, but it sure sounds good to the "common folk constituents" that the Dems like to portray themselves the savior of.

This is just the tip of the iceberg. The Fed is already looking at monitoring the pay at thousands of financial institutions that never even took any bailout money to make sure they aren't compensating execs and management to take big gambles. If they are that concerned about investment risks, how about regulating the types of investments that can be issued instead of worrying about what a company is paying their employee and how that pay is based. The problem there is that the Fed would actually have to understand the complex investments that can legally be structured(it seems they may have dropped the ball on that one with the credit swaps and CDO's). The other thing is that you get a lot more political bang for your buck when you go after that "evil overpaid exec" than you do by not allowing the sale of a particular derivative product as an example. Big, bad, rich exec, most understand. Derivative, what's that?

This is just another example of political posturing. This country needs to find real solutions. Until power hungry politicians are taken out of the equation I am afraid we will never truly get them.