And he's also wrong. http://www.cnbc.com/id/29991226 The Administration is not preventing the Banks from returning TARP funds. They are just preventing them from returning the TARP funds before the completion of the "stress-test" which is due out at the end of the month. In the meantime, the Treasury Department just allowed 4 small banks to pay back TARP funds totaling $338 million.
Compensation should definitely be determined by the labor market, not by government. If shareholders are unhappy with the compensation approved by the BOD, they are free to elect a new BOD or even sell their shares. Now that the government has stuck their nose in, the shareholders (taxpayers) no longer have the luxury to elect new board members or sell their shares. We've all seen those sci-fi, futuristic films that depict "Big Brother" watching everywhere and government controlling many if not all aspects of human life. Does anybody here honestly believe this is <b>NOT</b> where we are heading?!
I suppose you would have the Banks continue with their huge, Juicy Bonuses so they could continue to sip champagne and eat caviar all on the taxpayers' tab while many others are losing their jobs & houses, or let the biggest banks & insurers go under because YOU are 100% certain that this would not create utter chaos to your economy so you can hide in your kitchen with your shotgun that you have earned the right to bear! Even your fearless dumbass ex-leader W, knew this was a stupid idea and poured $$$$$$$$$$$$ into the system to avoid economic collapse. Stop condemning your 1st Black President and be proud your country is making some progress. Don't worry, don't be so paranoid, no one is taking your gun away. Not even Barry!
Obama isn't protecting the bank CEOs on any high moral ground, those CEOs are who funded his campaign and gave him his presidency. He booted the GM CEO, he already showed he lacks any morals for the "free market", he's not booting the bank CEOs because they're all his friends. These articles are the same kind of crap as FoxNews talking about stolen babies and zoo pandas on the loose, they are distractions while the real damage is being done.
Enough with the racial accusations! Totally uncalled for ⦠Look, the banks want to give the tax payer's their money back. That should be a good thing! Once the money is returned, the government should stay out of their business. That should be a good thing! How many AIGs, Fannie, Freddie's do we need??? Later this month, we should know the results of the stress tests. Let's try and give Obama/Geitner the benefit of the doubt and assume that theyâll accept the TARP back from the banks that don't actually need it ⦠and didn't want it in the first place. We should all be concerned about a government that crosses the line and leverages its power to unduly influence the private sector; in particular the financial system. If you donât understand that, you need a refresher course in history 101. I was alarmed by Obamaâs dismissal of GMâs president ⦠and Geitnerâs remarks about firing Bank CEOs ⦠and well, Iâm getting nervous. But I still canât say the administration has absolutely crossed the line. People still need to give them the benefit of the doubt and pray we havenât elected some power freak. :eek:
It ain't in any way power-freaky to demand the GM CEO's head on a platter; he was there for eight years, and according to my latest Consumer Reports, GM is at the bottom of the quality list, ahead only of Chrysler. As for the banks, these guys evaporated trillions of dollars of wealth, something even GM would struggle to do. None of them deserve to be paid a thin dime; they should be glad they aren't being prosecuted for fraud, which they would be under any other Democrat besides Obama, who seems not to be able to work up a temper tantrum for any reason. These guys sold on CDO's of mortgages that were so bad that even if we'd had one year of flat house prices, most of them would have fallen apart. They did it knowing this. It's fraud by any reasonable definition. For them to sit there and say they're competing for talent and therefore need to pay folks the big bucks, when the only reason most of them are sitting there is because of the TARP, is just outrageous in the extreme. BOA and C without the TARP would be gone. We all know that. As for the others, it's more debatable, but not by much; at the very least, most of them would be in much worse shape than they are, because most of them were rescued both directly and indirectly by the TARP and all of the other actions taken by the Treasury and, especially, the Fed in response to this craziness. So, for all practical purposes, they're all alive only because of the government. They are, therefore, property of the government, to be dealt with as such. If they didn't want to be in this position, they should have dealt honestly with their customers. They didn't. Now that they've failed, they need to shut up.
Whats Akon.....? he meant http://www.acorn.org/ And what the hell was so funny. U must be a drone... couldn't wait to attack.
Question, why is it when one has a different point of view, Obamabot's are quick to label the opposition as Racists ? This is like the third time on this thread alone. Is it some type of intimidation technique taught in obamnation school that should, in theory at least, keep logical opposing viewpoints suppressed. Well guess what, it just shows your arguments have no merit. If we were all such racist's, the man wouldn't have gotten elected. It just so happens that now, there seems to be a unmistakable case of "buyers remorse" because the gods honest truth is, many people had no idea how radically left he really was. And after 8 years with W, even many conservatives felt a need for change at any cost. But now they are simply realizing that this isn't the change they signed up for. It's not racism.
there was nothing racist in what he said. WOW, you are SO part of the problem and, apparently, not bright enough to realize it. The 'race card' is soooo played by Obama and the millions of bots who revere him. hell, i don't even call him Obama, i call him JC, since that is what he and Oprah scripted in his (very) well choreographed campaign (which is still going on, he continues to act like someone running for office- perhaps 'Ruler' is the next office targeted). the media and hollywood love him so much they can hardly contain the urge to pull it out and jerk off every time they talk about him (though i believe Jon Stewart has actually jerked it under his desk on the daily show). my point, is that nobody dares take on JC as the fear of being labeled racist is always a step away- like from your lame ass. nothing in his post even hints of racism; but, as a loyal pew dweller worshiping this Obamanation, you read race into it and had to do your duty. i could give a shit that he's black aside from teh fact that it let's this megalomaniac get away with FAR more shit than he'd be able to pull if he were white- thanks to dolts like you. oh, and yeah, i'm toothless and live in arkansas... or so you'll imply. nope... live in teh bay area and, frankly, the last time we saw this level of worship and blind following there were swastika's. instead of jews and gypsies being to blame, this time it's the 'rich'- you know, anyone who makes over $250m. kill 'em all...