What are the odds of Congress or the president proposing a tax on the outrageous earnings of the Hollywood elite similar to the taxes proposed on the Wall Street crowd being touted? This has "share the wealth" written all over it: http://marquee.blogs.cnn.com/2010/02/05/transformers/?hpt=T2 Think they will be demonized the way Blankfein, Mack and Dimon et al have been portrayed?
When was the last time the US Treasury or the Federal Reserve bailed out a Hollywood studio for the losses it incurred from a major film flop? Your comparison is ridiculous.
As a recipient of almost $50 billion in U.S. government aid, GM is subject to caps on executive compensation. Whitacre is now paid $350,000 as GM chairman and a member of the board. http://www.reuters.com/article/idUSTRE60O38E20100125 Can Lloyd or Jamie or Mack live on $350K? How much of their salaries and other executives' were reliant on the AIG funnel thru? Sorry, your argument is weak.
Absolutely right on. Waaaaaaaaaaaaaaaaaaaaaaaaaaaay less Government and much better controls on them to review their activities. No more life pensions for one term servers. Cuts should start with Government period.
I agree. But once the government bails an industry or company out? Guess what? Now you're the government's BITCH. No industry should be able to cry to the gov't for aid and backstops, and then expect laissez faire capitalism after a bailout. You can't have it both ways.
Executive compensation is not the same as killing the whole industry with taxes. Just defeats the purpose of what you call 'bailout'.
The industry is a blood sucking zombie. Don't foregt the 23 TRILLION in debts the US is on the hook for. You think those guarantees may have something to do with the financial industry still being around today, paying huge bonuses? Sorry, I'm still not shedding any tears for Wall Street.