A salary cap of 1/2 mil a year if, and only if, your company is financed by taxpayer money sounds unreasonable to you? AND if the company repays TARP funds these restrictions no longer apply. Yeah, totally unreasonable.
lol SERIOUSLY, agree with you. Some of you tight asses are just following the sheeps out there thinking this is bad. All these scumbag bankers are the ones that fucked the country and they need this money to survive, yet they have the audacity to complain about it? A CEO making 10 million a year to play golf and futs around in a private jet banging hookers while his company is drowning doesn't deserve the job anyway. They should feel lucky they they will be able to even make 500,000. I like that they will tie stock to their income as well and they can't just blow it out. If they want more money, get your shit in order and watch your companies stock rise instead of just fucking everyone else in the ass. Theyre not taking away how the financial system works, they're just lowering the potential for further mess ups like this for the companies who need the money. If you lend someone $5000 to play blackjack and they lose it, you're not going to just let it slide, you'd be on thier ass until you get it back. And if you found him at the strip club spending $3000 on some russian chick, you'd be mad too. There are good things about the plan and bad things, no gov't plan will ever be perfect. But if the good weighs out the bad and it can get things back to relative normalcy, then by all means.
Imagine for a moment that gov, wall street and the military/industrial/ phamaceutical sector are seamless and have been that way for a long long time. At the same time, small business plus consumption lead business soak up the majority of the labour pool. Mostly this has worked with the odd problem here and there but now thanks to a couple of catastrophic blunders, the societal framework is being stretched beyond it's limits. The 500K limit and the discussion over free markets have nothing to do with what is coming next. You need to realise that you are in a consumption based 'service society' and as people wake up and slow the consumption along with the services, it is going to drive a deep deep hole clean through 305M people. With no war to fight and no manufacturing base to speak of, the US population is out on a limb. That is why O has been instructed to offer a message of hope and a sense of fairness, whilst the back office is frantically trying to come up with jobs jobs and yet more jobs. regards f9
Congratulations. You are the first person on ET that I have called an idiot. Man, I hope you're joking.
The banks should not be allowed to fail because it is bad for the stock market. We need to preserve free market capitalism, but with some exceptions.
Let me get this straight. So because the government did one socialistic thing, that justifies it to do some more. By this logic, if they in addition to wage controls made it illegal for citizens to hold gold that would be ok, yet I bet you all would be whinning the US has became worst than Cuba. But of course this type of wage control is CONVINIENT for you all thats why you guys have no issue with it