Now, not only is the incentive on paying back taxpayers, the incentive is on paying back taxpayers as soon as possible. This is a bad thing? For the CEOs that didn't run their banks into the ground, and therefore are not on the taxpayer's payroll, their compensation package is voted on by the board as usual. How does any of this make us worse than Cuba? Overreact much?
For what it's worth, Obama just approved an 8% INCREASE in Defense spending in the FY 2010 DoD Budget. That having been said, I agree with you about the manufacturing sector, which has basically "imploded" even though the dollar has been cut in half over the past 8 years of the Bush Administration. If the morons in Congress would actually hold a "CEO Round Table" they would find out that this sector is held back by the tax code; having to expense the interest on loans made to purchase capital investment ( machinery ) over the life of the asset - - - as opposed to the financial SERVICES industry that is allowed to 'write-off" interest expense immediately. Change the tax code in the capital investment area and you will see the manufacturing sector come roaring back to life. If only the morons in Congress could understand basic Economics.
Daal, 1st of all the compensation system is broken and it has just become executives essentially voting themselves whatever compensation they want (they all sit on each other's comp committees etc). Beyond that these firms that have acted irresponsibly and with gross incompetence by the top level executives are already being unfairly rewarded because they are supposedly too big to fail. They are being rewarded at the expense of those who acted responsibly under the free market system rules where if you go BK you are out of the game. Now you are suggesting that those who acted responsibly and have been penalized for it have to have insult added to injury, literally, by having the executives who should be out of business be additional rewarded for their incompetence, again, at the expense of all of us who did not take on too much risk to line our pockets at the time with no regard for potential consequences. Last time I played poker when someone went all in and they busted out, the other players in the game didn't all chip in to give them a bonus for doing so (especially if they had all just covered the markers the loser accumulated during the game)! Those who can will move on to firms that can pay them what they are worth, those that canât will be lucky to still have a job. That is how the free market works, not keeping stars at inefficient firms.
Your the idiot if you can't see how incompetent obama is. Obama is the dumbest president in my lifetime. I doubt if his IQ is over 110. Apparently all he can do is fuck things up. He is a laughing stock already on the world scene. No body would tell Bush he was barking up the wrong tree like India just told Obama. Thats because the world respected Bush. Hell, obama can't even find a real birth certificate to put on web. He had to have one airbrushed. John
Funny how your buddy Bush never once admitted making a mistake over the course of 8 years ( aside from the "timing" of his proposal to privatize Social Security ) and all you can do is throw "stones" at a guy that just got into office in a position that none of our previous President's have seen in the past 70 years~ Next to our good buddy NeoRio1 you must be the most IGNORED poster on ET.
Before you were just clueless, now you are way out there. From limiting incompetent thiefs compt to gold ownership and Cuba. Or maybe you just venting.lol
I agree completly. If obama plan for exec comp was increasing shareholder power and oversight it could completly consistent with market principles and probably pretty effective. What I dont think this particular move is big deal, they are creating the PRESCEDENT which might lead for them one day to do a sarbanes-oxley and let the government tell private firms how comp should be set, although there are plenty of exceptions US corporate performance(as measured by SP500 earnings) have been pretty good over the last few decades so its not like US corporations are broken in the sense they dont perform or that the money is totally undeserved
John, if you want to call people idiots, at least check your spelling before you post. It's hard to take people seriously when they can't even spell "your" and "no body." At least you didn't call me a "looser." So the "world scene" laughs at Obama and didn't laugh at Bush? If you stick your head any further up your own ass, you'll never get it out.