Here we go.......down this road....is bad news

[JustRalph]

It's official.......we are now a Quasi Socialist/Communist Amalgamation of philosophies that fail, and punish ambition and success.

If you are gonna dance with the Devil...........you are gonna have to put up with the horns..................

http://www.cnbc.com/id/33417281

U.S. Said to Order Deep Pay Cuts at Bailed-Out Companies


Responding to the growing furor over the paychecks of executives at companies that received billions of dollars in the government’s financial rescue, the Obama administration will order the companies that received the most aid to deeply slash the compensation to their highest paid executives, an official involved in the decision said on Wednesday.

Under the plan, which will be announced in the next few days by the Treasury Department, the seven companies that received the most assistance will have to cut the annual salaries of their 25 best-paid executives by an average of about 90 percent from last year. Their total compensation — including bonuses and retirement contributions — will drop, on average, by about 50 percent. The companies are Citigroup [C 4.42 -0.01 (-0.23%) ], Bank of America [BAC 16.51 -0.50 (-2.94%) ], American International Group [AIG 38.96 -1.47 (-3.64%) ], General Motors, Chrysler and the financing arms of the two automakers.

more at the link

[GaryG]

There is a local bank in Abingdon, VA that has a sign out front that says: "We will not accept a dime from this socialist government. That way we will never be beholden to them." Sentiments may be different further north.

[GameTheory]

There is a local bank in Abingdon, VA that has a sign out front that says: "We will not accept a dime from this socialist government. That way we will never be beholden to them." Sentiments may be different further north.A bank in the North would never put up a sign expressing an opinion of any kind. I'd be shocked to ever see something like that (on a bank), whether I agreed with it or not.

[Rookies]

It's official.......we are now a Quasi Socialist/Communist Amalgamation of philosophies that fail, and punish ambition and success.

If you are gonna dance with the Devil...........you are gonna have to put up with the horns..................

Mmmmm... which U.S. Commie Prez first invoked state controlled Wage & Price controls ?

That would be Commissar Tricky Dicky... in 1971. :lol:

Ralph... please... nice try...

[HUSKER55]

YES, BUT HE WAS TRYING TO GET A HANDLE ON INFLATION and the program was dismantled in 1974 when it failed to slow inflation and the inflation reached double digits.


If memory serves it was originally put into effect for 90 days and congress pushed it for about 3 years to no avail, which is why the congress dismantled it.

[lamboguy]

watch the equity markets tank because of this

[Warren Henry]

Does this mandated pay cut activate any of the executives golden parachute clauses in their employment contracts? If so, cutting their pay would probably cost more than leaving it alone. If I was a top exec and you cut my pay 90%, I would quit, retire, etc. Probably would sue too.

If the top 25 quit, are the companies allowed to raise the pay from the new 10% level in order to attract someone else to the job? If not, the companies are even more doomed than they are at present. Sell Short!

[PaceAdvantage]

Mmmmm... which U.S. Commie Prez first invoked state controlled Wage & Price controls ?

That would be Commissar Tricky Dicky... in 1971. :lol: Hmmm...let's see....an "Enemies List" and now this?

You guys are supposed to HATE Nixon...not EMULATE him....don't forget that...:lol:

[Tom]

I see an amusing trend here. Every time we complain about an Obama action, we get the standard reply that so and so did it before. But they can never DEFEND that action on its own merit. Maybe the facts are not as clear when they are converted to metric.

[Black Ruby]

let's disband those socialist professional fire departments. Or are we picking and choosing what manifestations of socialism we like here?

[BenDiesel26]

let's disband those socialist professional fire departments. Or are we picking and choosing what manifestations of socialism we like here?

The government was formed to protect the natural rights of US citizens, one being life. In your opinion, do firefighters not protect life?

[exactaplayer]

I'm with ralph and tom here.
Nothing wrong with our tax dollars going to the top dogs of these wall street gamblers.
Maybe someday they will bail us horse players out when we make bad bets and then we can give ourselves bonuses too. :lol:

[Quagmire]

The government was formed to protect the natural rights of US citizens, one being life. In your opinion, do firefighters not protect life?

Just like doctors do.

[BenDiesel26]

Just like doctors do.

You're right. That's why there is the EMS, etc. When there is a fire, the fire department puts it out. When somebody is threatened with an emergency medical situation such as a car accident, they are taken to the hospital where they receive care.

[Quagmire]

]When somebody is threatened with an emergency[/B] medical situation such as a car accident, they are taken to the hospital where they receive care.


The government was formed to protect the natural rights of US citizens, one being life. In your opinion, do firefighters not protect life?


So the government only has to protect life in emergency situations?

[rastajenk]

Are you always this obtuse, or are you trying harder today?

[boxcar]

It's official.......we are now a Quasi Socialist/Communist Amalgamation of philosophies that fail, and punish ambition and success.

If you are gonna dance with the Devil...........you are gonna have to put up with the horns..................

Mmmmm... which U.S. Commie Prez first invoked state controlled Wage & Price controls ?

That would be Commissar Tricky Dicky... in 1971. :lol:

Ralph... please... nice try...

And it was wrong then, and it's still wrong. So, what's your point?

Boxcar

[boxcar]

The government was formed to protect the natural rights of US citizens, one being life. In your opinion, do firefighters not protect life?


So the government only has to protect life in emergency situations?

Why do you ask such a question? Are you not capable of watching after yourself in non-emergency situations? You need Nanny to babysit you 24/7?

Boxcar

[jballscalls]

Why do you ask such a question? Are you not capable of watching after yourself in non-emergency situations? You need Nanny to babysit you 24/7?

Boxcar

actually it is quite nice to have someone trained in emergency situations to help you if say your leg is broken and you can't walk or if maybe someone just stole your wallet, not an emergency, but not the time you want to be alone.

Boxcar, i ask this in all sincerity. Have you ever not needed help with something? have you always been completely self sufficient?? did you never have to ask a teacher a question in school??

it's ok to ask for and get help sometimes. there is nothing wrong, or unmanly about it. sometimes we can't just pull up our bootstraps and get it done.

I've never been unemployed and have been fortunate to save up some good money in case i ever do. But i've battled mental illness for a few years now, and in some of my groups i see people that are mentally unable to work or even care for themselves. many don't have family to help. should they just be sent out into the cold???

i

[46zilzal]

. But I've battled mental illness for a few years now, and in some of my groups i see people that are mentally unable to work or even care for themselves. many don't have family to help. should they just be sent out into the cold???

i
Don't tell that to these yokels. They have no idea about it's natural evolution

Having been in the depths of depression after my wife died, I can understand where you are coming from.

To hear these idiots talk, these types of situations only happen to the LAZY among us.

[GaryG]

Why do you ask such a question? Are you not capable of watching after yourself in non-emergency situations? You need Nanny to babysit you 24/7?

BoxcarThere is a limit to how much the govt should intrude. Those in power seem to feel that they need to control every aspect of our lives. All of this is making me more of a libertarian all the time. In my region folks look out for one another all the time. Everybody knows your business but they will be there to help if you need them. One of my neighbors was out of work suddenly and had a big family to feed. He never had to worry and is now working again.

[Tom]

Don't tell that to these yokels. They have no idea about it's natural evolution

Having been in the depths of depression after my wife died, I can understand where you are coming from.

To hear these idiots talk, these types of situations only happen to the LAZY among us.

Please stop posting lies, 46. I have posted more than once that there are some people 100% in need of our assistance. I have posted that my objection to the freeloaders is that they take health away from the truly deserving.
Do a simple search and you will find that your post is 100% horse poop.

[ddog]

"freeloaders is that they take health away from the truly deserving."


This is close to the top of the scale of unique evil postings on here ever!


Bama is in favor of death panels?

At least they would get a panel, you it seems deny even the possiblity of review.

Once passed on by the ultra-lawgiver Tommy , they should just slink off and die.

[Tom]

Sale on BS this week, dog?

[PaceAdvantage]

let's disband those socialist professional fire departments. Or are we picking and choosing what manifestations of socialism we like here?Fire Departments are run by municipalities, not the Federal Gov't....therein lies the huge difference....

If any individual state would like to set up a "health care for all" program, no problem here....go right ahead....

[BenDiesel26]

Don't tell that to these yokels. They have no idea about it's natural evolution

Having been in the depths of depression after my wife died, I can understand where you are coming from.

To hear these idiots talk, these types of situations only happen to the LAZY among us.

You once said that all down syndrome babies should be aborted.

[boxcar]

actually it is quite nice to have someone trained in emergency situations to help you if say your leg is broken and you can't walk or if maybe someone just stole your wallet, not an emergency, but not the time you want to be alone.

Boxcar, i ask this in all sincerity. Have you ever not needed help with something? have you always been completely self sufficient?? did you never have to ask a teacher a question in school??

it's ok to ask for and get help sometimes. there is nothing wrong, or unmanly about it. sometimes we can't just pull up our bootstraps and get it done.

Please explain to me how your questions here are relative to the two questions I asked Quagmire in #18. Did you read #18 or did you just have an uncontrollable knee-jerk reaction as a result of skimming?

Boxcar
P.S. I wonder if knee-jerks would be covered under ObaminationCare? :rolleyes:

[Hanover1]

Hmmm...let's see....an "Enemies List" and now this?

You guys are supposed to HATE Nixon...not EMULATE him....don't forget that...:lol:
But: :I am not a crook".............

[Java Gold@TFT]

If the Prez wants to dictate what the CEO's can make at GM then why not also mandate the pay for workers in the united automotive workers union? Some guys that couldn't even pass a GED exam are making over $35 per hour. Is that fair to the poor shlubs with the same credentials operating a cash register at the local grocery store? The UAW workers are just as overpaid as the CEO so screw them too while you are practicing your selective socialism. How many more jobs could be created by cutting any salary over $20 per hour while creating new jobs?

[Tom]

Fire Departments are run by municipalities, not the Federal Gov't....therein lies the huge difference....

If any individual state would like to set up a "health care for all" program, no problem here....go right ahead....

Bingo!

That is exactly the thing STATES should be handling, NOT the FEDERAL BOYS.

[NJ Stinks]

The UAW workers are just as overpaid as the CEO so screw them too while you are practicing your selective socialism. How many more jobs could be created by cutting any salary over $20 per hour while creating new jobs?

$20 an hour is $41,600 a year. Try living on $41 grand a year and tell me how grand it is, Java.

And the crack about the UAW workers being just as overpaid as the CEO must entitle you to some kind of award. :rolleyes:

[Java Gold@TFT]

$20 an hour is $41,600 a year. Try living on $41 grand a year and tell me how grand it is, Java.

And the crack about the UAW workers being just as overpaid as the CEO must entitle you to some kind of award. :rolleyes:
That $41,600 is almost 4 times the poverty level. Is some guy watching a robot worth more than 4 times the guy packing your groceries? And yes, since I own my own home I can live on $40,000 per year and have done it without a federal bailout. Does the guy watching the robot have any effect on the value of the company the way a CEO does? Given home prices and rental prices in Detroit I would say that $40K is very generous and if you take into the fact that almost every family these days are two income families that is $80K and I definitely wouldn't have a problem with that. Maybe, you and Roger Moore could investigate how many married couples both work for the UAW. The numbers would be interesting.

My point remains the same - If the Prez can dictate top salaries then he should also be able to dictate ALL salaries in any company beholden to his "bailout". Stop paying $40/hr to people who should be working at Walmart. Maybe next time he slips up on Lettermen or Leno he can bash Walmart or McDonalds employees instead of Special Olympians.

Socialism at its greatest - "The government now OWNS you and we/I can dictate to you excatly how to run YOUR company." What's so hard to figure about that?

[newtothegame]

$20 an hour is $41,600 a year. Try living on $41 grand a year and tell me how grand it is, Java.

And the crack about the UAW workers being just as overpaid as the CEO must entitle you to some kind of award. :rolleyes:

I believe it to be called "living within your means".
I know several families that live with 41,000 a year income. I also know a few families that live with six figures a year. Let me tell you that both sides have advantages and disadvantages. My friends (as I percieve them) that are rich, at times wish they were at the poorer levels. And the opposing friends with the 41000 per year income wish they were at the higher level. Wonder why? Let me try to help from what they have told me. When you seem to be a "have" in this society, the "have nots" constantly are wanting what you have. You pay a larger share of taxes then the lower level pay families. And for that matter, everything you purchase is of higher cost. Its the nature of the life style. Just as the lower income person may drive a 15000 dollar vehicle, the higher income has the 100000 vehicle.
Now you may say its a "choice" they make. I would almost agree. Problem is we ALL make choices. One example would be the poor lone inner city kid who choses a drug life over school. Or for that matter it could be an urban life kid. Facts are the kid made a choice. In some cases, the parent makes the choice by not enforcing "parenting".
Why penalize the "haves" for the "have nots" mistakes?
I feel bad for some in society. Don't get me wrong. But I did NOT put them into that situation. As a matter of fact, I grew up in a household where my father pumped out septic tanks and my mother worked as a waitress most of her life in the midwest. There were times when I wished we were near the poverty level lol. I have never attended a day of college. But, I am very close to six figures a year. How is that possible? There are no "silver" spoons in my memories. I went off and joined the military with parental signature at the age of 17. I have worked since the age of sixteen. I have been with my present employer for almost 18 years. Point is a little hard work, determination can go a long ways.
I don't feel I OWE A DAMN thing to those who make less then me. I served them with my military service. But for the government to tell me I need to pay more in taxes, be penalized for having a certain healthcare program to help pay for those who don't, or at some point look at controlling my pay...well I am sorry. I will do everything within my power to protect what I have earned for MY immediate family. Its what the "american dream" is all about. I didnt read the part that said if you became successful that you had to take care of those that didnt.
Now I know alot of you will come back and retort that there have been times we "all" needed help. For example that the gov't fixes the infrastructure such as roads etc etc. And I use those same means to get to and from. Your right, I do...thats what I pay my current taxes for.
If your interested in a fine example of politics and infrastructure, look at the "crescent city connection" in new orleans louisiana. They took tolls from people and still do. Point is that once a certain time passed, the tolls were to stop. DIDNT HAPPEN! Till today, the tolls are a way of life. Bridge has been probably paid for 5xs over with tax payer money lol.

[HUSKER55]

THE UAW WHINES BECAUSE THEY CAN'T COMPETE AND MAKE 6 FIGURES.


IT IS CALLED SOCIALISM...ER UNIONS.

BREAK THE UNIONS AND STOP SOCIALISM


THEY ARE PART OF THE PROBLEM AND THEIR DESTRUCTION IS PART OF THE SOLUTION

[Tom]

Because all employees must join a union when one muscles in a company, it is not unreasonable to estimate as many as 40% of union member do not want to be in one, just forced to.

You know, if $41,000 a yer is so bad to live on, perhaps you should make your contribution worth more. Turning a screw only gets you so far.

Would a company be wise to pay $120 a barrel for oil when it can be had for $70? That is a union.

[hazzardm]

Need cash?, join the Fed

President Obama's call last year for "shared sacrifice" doesn't extend to federal employees, at least based on the details of his administration's 2010 budget released this week.

At a time when the official unemployment rate is nearing double digits, and 6.35 million people are receiving unemployment benefits, the U.S. government is on a hiring binge.

Executive branch employment — 1.98 million in 2009, excluding the Postal Service and the Defense Department — is set to increase by 15.6 percent for the 2010 fiscal year.

http://www.cbsnews.com/blogs/2009/05/12/business/econwatch/entry5007862.shtml

[Tom]

Those are jobs that illegal Mexicans will not do.

[JustRalph]

http://www.denverpost.com/harsanyi/ci_13621591

Harsanyi: Rise of the mob economy
Why bullying Wall Street won't solve anything

POSTED: 10/23/2009 01:00:00 AM MDT

What's more infuriating: a government "pay czar" who can dictate the salary of private-sector citizens or some corporate welfare queen having the nerve to complain about a salary cut?

On a gut level, it's a tough call. Watching the same swine that begged for charity after spearheading the devastation of their respective companies take a massive salary cut is thoroughly satisfying. Yet, in a broader sense this unprecedented intrusion into the economy accomplishes nothing — well, other than setting an array of dangerous precedents.

Who knew? Chicken-little governance comes with a steep price tag. Could anyone have imagined, even two years ago, that an unaccountable pay czar, Kenneth Feinberg, would have the authority to dictate the salaries of private-sector employees?

Yes, these companies were at the taxpayer trough. Which means that firms that accept aid from Washington should consider the "assistance" analogous to the help offered by the Godfather at his daughter's wedding. You're in for life. Existing contracts have no real value. A single political appointee may have the power to decide what you're worth.

And what if the companies that accepted bailouts — Citigroup, Bank of America, American International Group, General Motors and others — never pay back taxpayers? Do they answer to the White House in perpetuity?

To the astonishment of absolutely no one, Neil Barofsky, the special inspector general for the Treasury, tells us that the American taxpayers aren't likely to recover hundreds of billions of dollars they "invested" to bail out financial institutions, Detroit automakers and bubble-inducing homeowner programs.

more at the link

From the Piece: This should scare you to death........!!!

Who greased this slimy incline of government intrusion by begging for handouts? They did. Yet, the slippery slope argument is difficult to deny when the Wall Street Journal already reports that New York Democrat Chuck Schumer plans to press for legislation extending the pay czar's governance to all publicly traded companies.

[exactaplayer]

Here is a youtube link with another view.
http://www.youtube.com/watch?v=zmvLPmSKn7o

[JustRalph]

Here is a youtube link with another view.
http://www.youtube.com/watch?v=zmvLPmSKn7o

You ignore the entire point of my post. And the thread. It is a slippery slope and Chuck Schumer is calling for control of salaries in "All publicly traded companies"

Do you understand what that means? Total Control over the economy!!

Not just control over companies that are bailed out........but any company that is publicly traded............ look around at those other countries that do that.........It means a nationalized economy!! Plain and Simple

[Tom]

And here it comes....the connection to health care. Once you are beholding to the government for your health care, they can, by extension, control your life. They can impose anything they want on you because you are taking government care. They own you. And the way they are setting it up, you will have NO chioice but to go on the public option eventually.

[NJ Stinks]

And here it comes....the connection to health care. Once you are beholding to the government for your health care, they can, by extension, control your life. They can impose anything they want on you because you are taking government care. They own you. And the way they are setting it up, you will have NO chioice but to go on the public option eventually.

De Plane, boss, de plane!

I was just in England. Didn't meet any Brits complaining about the government controlling their lives there.

Imagine that. :rolleyes:

[Java Gold@TFT]

The first job I ever had after graduating college was in a unionized plant. In the 5 years I worked there we had two strikes. Both were well planned out by management. We hired gypsy truckers to move goods to a warehouse and built up enough inventory to last through a 2 month stirke. Plants that were run by 100 unionized workers were run by 15 management personnel. As the quality control manager I can say that the only returns were because the people running the warehouse sent the wrong items. Unions have far outlived their usefulness. I would never consider working in a unionized plant on either side of the aisle. Unions are socialist. Screw the talented emplyee of 2 years to keep a useless emplyee of 30 years.

[JustRalph]

De Plane, boss, de plane!

I was just in England. Didn't meet any Brits complaining about the government controlling their lives there.

Imagine that. :rolleyes:

They have a history of living under the thumb of a Tyrannical Government

That is the core difference between us and them! You seem to forget that little breakaway that occurred in 1776 :bang:

[Pell Mell]

De Plane, boss, de plane!

I was just in England. Didn't meet any Brits complaining about the government controlling their lives there.

Imagine that. :rolleyes:

"Ignorance is Bliss":rolleyes:

[Tom]

De Plane, boss, de plane!

I was just in England. Didn't meet any Brits complaining about the government controlling their lives there.

Imagine that. :rolleyes:

I imagine when you are too lazy to take care of yourself, that is common. See where Britain is as a world power today? :lol::lol::lol:

[Tom]

"Ignorance is Bliss":rolleyes:I thought it was British?

[skate]

I see an amusing trend here. Every time we complain about an Obama action, we get the standard reply that so and so did it before. But they can never DEFEND that action on its own merit. Maybe the facts are not as clear when they are converted to metric.


Zactly the point Tom, that's a good one.

They NEVER NEVER EVER Defend the action on its own merit.;)

Talk about thick...:bang:

[skate]

Ronnie brings Democracy to W. Germany and Russia.

Bush brings Democracy to Middle East.

Nixon - to China.

Johnson to Nam:)

BamBam (makes a basket) brings Socialism to the U.S.

Skate brings Peace to Pace.

Kennedy, Peace to Monroe.