Obama Declares US Wage Controls

If a trader at BAC receives a million dollar bonus isn't almost half his check going right back to the Treasury?

The debate is just ridiculous populism. The execs who caused the problems are long out the door-with 10's of millions in comp.

Let's say you were born with a silver spoon in your mouth. Friends of your Dad throw you a ton of IB business. Because of those relationships you're a cash cow for your firm. Should your comp be capped? If yes then what will your next action be? Hello Deutsche Bank, eh? Is your exit going to help your present TARP receiving employer? Hardly.

 

True, one of many troubling precedents being set. Looking back, if the Fed had not intervened with LTCM and allowed them to blow up would we be in this mess today? The slippery slope is a dangerous thing. The way I look at it though is that by rewarding those who are incompetent or inefficient the precedent is worse than the subsequent intrusion of government in the free market once tax payer support is needed. Perhaps this comp cap will be a warning to future CEOs of what awaits them if they can not mind their own business.

 

You are sooo full of it .

 

What remedial education system did you go graduate from? Are you still riding short yellow bus?

The government, aka taxpayer is footing the bill from these banks. Since that somehow makes the taxpayers the shareholders (against their will), then they have the right to decide what, if any, compensation limits there are.

Just like shareholders of a corporation do, or at least should do. But then shareholders have an option, they can dump the stock. The taxpayers are stuck with it.

 

Does not sound broken to me, more like "working as intended".

I feel it's absurd, but I don't own any shares nor do I intend to own a share of any company with absurd executive compesation to those who never put any equity into the firm. I don't like being ripped off.

 

One man's absurd outcome is another man's broken.

 

Apparently, it's clear in the Constitution that the Gov cannot impose restrictions on contracts simply because it loaned out money.

Seems to be the first thing the Gov should have checked. Will be interesting.

 

if we were living by the constitituion, they NEVER WOULD HAVE GIVEN THEM THE FUCKING MONEY IN THE FIRST PLACE!!!!!!!!

 

That's a valid point if it's true. Where in the constitution did it say that?

 

Ron Paul is a politician. Like all successful politicians, the first, last and only immutable plank in his ideology is to get re-elected.