Obama Declares US Wage Controls

thank you

 

"On Wall Street, there is concern that compensation curbs would hinder a company’s ability to attract top-notch employees, and that would lead to a talent drain, Meredith Whitney, an analyst at Oppenheimer & Co., said on Bloomberg Television.

“If you cap compensation, the best and the brightest are still going to figure out a way to make money, and it may not be on Wall Street,” Whitney said. "

A talent drain on Wall Street would be a good thing at the moment. Let the talent soak into other sectors of the economy and see what they can do to help make companies more productive, or better yet, start their own companies and make millions that way.

 

LOL you must be joking.

There is no demand for used car salesmen or life insurance salesmen.

 

Well, you can't be surprised by this. If they can tell Detroit what to build, why can't they tell Wall Street what they can earn?

I doubt we've seen anything yet. This party is just getting started.

 

With the first wave of TARP money, some banks were forced by the govt to accept handouts even though they didn't want them. The govt's rationale was that if a bank had to ask for the money, that would be an indication that they were in trouble and there could be a run on the bank. So the govt just decided which banks would get money and that was that.

If the govt is going to continue to force the money on banks and now limit executive compensation, that would be a shame. It wouldn't be the first time that the government has implemented wage controls, but this is an underhanded way of doing it.

 

+1!

I'm almost always in disagreement with you, gnome, but here you've got yourselves a homerun!

 

Yeah, I second that +1.

But I actually am in agreement with most everything gnome says ... except his Obama rants.

 

Where do you get this crap from? Because a few bank CEOs & execs said so in some Wall Street media publications, in order to make them seem like angels while they were using TARP funds to line their pockets?

What are some of these banks by the way? Last I remember, banks & firms subscribed to the TARP by choice, not by force.

 

When Wells Fargo canceled their recent Vegas "Recognition" junket, in their defense, their rep said that this event was not funded by any of the TARP money.

LOL. Clueless.

 

LOL what were you worried about Daal, Obama wouldn't threaten Dodd and Schumer's pals in any meaningful way.

http://online.wsj.com/article/SB123387352310154241.html