White House, Congress seek to rein in exec
By JIM KUHNHENN
Associated Press Writer Jun 11, 6:16 AM EDT
WASHINGTON (AP) — As the Obama
administration takes a half-step toward taming executive pay, Congress might
consider a fuller stride.
(ap) - Give this some Serious Thought... Let it sink
in... What in the **** is going on in this REPUBLIC?... If we can Keep it! I
have one Question for Barry... How much did you make on your last Book?...
Millions, Correct?... What if you didn't get the Nomination and those Sales fell
flat, should you be Punished, or just not get Paid? And when you are done in the
White House, how much do you Think you will make "Lecturing"?... Should we limit
your Ability to Earn also? Couple this with Government Motors and the Grotesque
Spending this (m)an is Perpetrating, and you have the makings for some very
Serious Problems in the Future. Remember, Barry NEVER even finished his first
term in the Senate... He has NEVER run a Business... And he is about as green as
the Money he's handing out like candy. I don't care which Side you are on, this
should Concern you. - tha malcontent)
The administration, which has maintained that excessive compensation in the
private sector contributed to the nation's financial crisis, has rejected direct
intervention in corporate pay decisions.
(They may Claim that, but can they back it up with
Substance?... I Doubt it. But I Assure you that Liberal Lending Practices pushed
by Carter, Clinton and damned near EVERY Liberal in Congress CERTAINLY did
contribute to this Financial Mess... But since the Pet Projects of the
DemocRATS, Freddie and Fannie, can't be Touched, we will continue to go after
the Evil Private Sector that is not Directly a Function of the Gubmn't... But
may soon be! - tha malcontent)
Instead, Treasury Secretary Timothy Geithner announced Wednesday that the
administration plans to seek legislation that would try to rein in compensation
at publicly traded companies through nonbinding shareholder votes and less
management influence on pay decisions.
(TIMMY!... He wants the Angry Mob to run ****...
Classic Liberal Emoting. You know, this Path has been Traveled by other
Countries... Most Notably in recent years would be the FORMER Soviet. But
apparently they didn't do it Correctly, and this Batch of Commies knows how to
do us right. - tha malcontent)
To Rep. Barney Frank, the chairman of the House Financial Services Committee,
Geithner's plan doesn't go far enough.
(The Justice Department "hasn't gone far enough"
with Barney Frank... He's Filthy in the Lending Mess, and simply because the
DemocRATS have the Power, he will not be Prosecuted... But should be, if Justice
mattered to the Left. I do Love how the AP Fails to mention anything about the
Scandal that will never be regarding Frank. - tha malcontent)
"It is not the government's business to discourage risk taking," said Frank,
D-Mass. "But neither should we allow systems which have existed up until now
whereby decision-makers are handsomely rewarded if they take big risks that pay
off, but suffer no penalty whatsoever if those risks result in losses to the
(Not getting Paid is the Risk, Barney... You don't
Perform, and you don't get Paid. If you do Well for what you were Tasked to do,
then you should get Paid for it, regardless of whether or not other Sectors of
the Company have Failed. - tha malcontent)
On Thursday, officials from the Treasury Department, the Federal Reserve and the
Securities and Exchange Commission planned to testify on the issue before
(And after the Testimony, they will all Golf
together on land that would be better utilized to house and feed their
Constituency, but that's what they Created Housing Projects for... **** the
Poor!, Let's GOLF! - tha malcontent)
That Frank would so quickly call for proposals beyond those laid out by Geithner
illustrates the caution with which the Obama administration is approaching the
fundamental issue of compensation packages. But it also underscores the shifting
ground beneath the private sector in the midst of a financial crisis.
(Ground that is being "Shifted", in part, by Biased
Media Coverage in Favor of the Marxists in Power... Remember just a couple of
short months ago the "Free Press" was Parroting the "Great Depression" talk of
Barry's?... My how things have Changed since Inauguration. What hasn't Changed
is ANYTHING Policy wise since (43), and it won't until 2010, so is this
"Recovery" (43)'s?... MeThinks it is, but the "Free Press" won't paint it that
way. - tha malcontent)
The administration drew a sharp line between the overall corporate world and
those institutions that have tapped the government's $700 billion Troubled Asset
(I Understand the Distinction the Administration is
attempting to make, but ultimately they are taking over these Businesses, as
they have GM, and that's Concerning. It's also Concerning that this practice of
limiting pay could be Instituted in Law for ALL Businesses considering the
make-up of the Congress and the Marxist nature of this President. - tha
It issued new regulations Wednesday that set pay limits on companies that
receive TARP assistance, with the toughest restrictions aimed at seven
recipients of "exceptional assistance." Those firms are Citigroup Inc., Bank of
America Corp., General Motors Corp., Chrysler LLC, American International Group
Inc., GMAC LLC and Chrysler Financial.
(I want you to Remember something about Barry from
before the Election... He said he wanted to Bankrupt the Coal Industry... It's a
Fact, he said it. Consider that as you watch what he has done, and will continue
to do as President. - tha malcontent)
The regulations limit top executives of companies that receive TARP funds to
bonuses of no more than one-third of their annual salaries.
(Then Salaries go up and Incentives goes buh-bye...
Do these people even Think ANY of this stuff through before Acting?... - tha
In a significant expansion of authority, the regulations call for a special
compensation overseer who will burrow into the pay practices of some of the
country's biggest enterprises.
(Big Brother's Minders are Coming... Welcome to
Obamamerica. - tha malcontent)
The administration named Kenneth Feinberg, a lawyer who oversaw payments to
families of victims of the Sept. 11, 2001, terrorist attacks, as a "special
master" with power to reject pay plans he deems excessive at the seven companies
with the biggest injections of public money. Feinberg also would have authority
to review compensation for the top 100 salaried employees at those firms.
(Barry has a "Special Master"?... Creepy. - tha
"We do not believe it's appropriate for the government to set caps in
compensation," Geithner said. "We're not going to prescribe detailed
prescriptive rules for compensation. All those things would be ineffective,
could be counterproductive in some ways."
("...could be counterproductive in some ways"...
Think about what that REALLY means... It may or may not be, and even if it was,
not in all ways... Spoken like a True Marxist. Excellent Choice @ Treasury in
TIMMY!, Comrade Hussein Obama! - tha malcontent)
Geithner said the administration will ask Congress to give shareholders a
nonbinding voice on executive pay and to require corporate compensation
committees to be independent from company management. That second provision
would give the SEC authority to strengthen the independence of panels that set
(And of course, this will ONLY be for those who have
gone to the Beast's Teat for Nourishment... It will NEVER Bleed out into the
rest of the "Free Market". - tha malcontent)
Geithner also laid out a series of guidelines that encourage corporate boards to
adopt pay packages that reward long-term performance rather than short-term
gains and to better manage the relationship between risk and incentive. Those
guidelines, or principles, are not enforceable but are meant as a message to
corporate boards and to shareholders.
(It's like when the Nazi Commander puts the Gun on
the desk and tells the Failure, you Know what to do with it... "Encouragement".
- tha malcontent)
Frank said he didn't think strengthening the independence of compensation
committees would do enough. Noting the "inherently close relationship" between
top executives and boards of directors, "it is very unlikely that you will ever
get the degree of independence that will allow the boards of directors to be
left completely on their own to set compensation," Frank said.
(How about the "inherently close relationship"
between the People Barry has Appointed and is Working with in Congress, that are
Supposedly Objective and Independent?... TIMMY! comes to Mind. Or how
about looking into the Car Dealerships that were on Barry's chopping block and
those that were not, and how they Donated, or did not, to the Messiah. Anyway, I
am Sure Barry can figure out what's Good for these Companies... And all other
Companies... And of course, you and I, Comrade. Notice something about the
way the AP Reports since the Messianic One?... Well, I have. They tend to
NOT give Voice to Dissent. Where are the REPUBLICans position on this? I
Know they have one, Specifically the Conservative Faction. Before, when the
REPUBLICans were in Charge, the AP almost Lead with the Dissent as the Story...
Those days are LONG Gone... As is the Clause of the First Amendment that are
Molesting, I guess. - tha malcontent)
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(That depends on what the
meaning of "may" is... All commentary included on this website is the opinion of
tha malcontent and is based in the Truth. No Liberals, Marxists,
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