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Obama Admin: Rein in pay in US private sector Print E-mail
The Lance Haynie Blog
Written by Lance R. Haynie   
Thursday, 11 June 2009 08:57

Excuse my language, but are you fucking kidding me?

WASHINGTON (AP) -- The Obama administration says executive compensation must be better managed to prevent the sort of risk-taking that jeopardizes the economy.
Gene Sperling, who advises Treasury Secretary Timothy Geithner, said Thursday the administration does not want to impose caps on executive pay. But he also laid out for the House Financial Services Committee a list of guidelines calling on publicly-held companies to link compensation to long-term performance, not short-term gains.
Sperling said in prepared testimony that the administration believes compensation practices "must be better aligned with long-term value and prudent risk management at all firms, and not just for the financial services industry. 

Could this administration be anymore blatant with their motives? First we have the bailouts that should have never been -- yes I am aware that started with Bush, that does not make it right. Then the GM/Auto bit. We have a pay czar -- what is next?

I hope I am wrong, trust me I do. However, it looks to me like he is going to do anything he can to hold a tight grip on business. Either by way of taxes, or pay limitations. Yes, I know he said he does not want to put a direct cap but frankly I do not believe him. He said he was going to do a lot on his campaign trail that he is going against. We already have Microsoft, who is one of our largest employers, saying if they raise taxes they will ship jobs overseas. When all of those jobs are lost, you can blame this administration directly. Companies have warned us, they are just ignoring it. I guess we get to call their bluff. 



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Anonymous   |2009-07-09 10:36:34
im just going to get on medicaid and buy a forgein car, is that what you want
lance?! is it?! :)
m921   |2009-06-12 04:12:08
The executive pay issue does not affect most firms. What is does do is put more
control of executive pay in the hands of shareholders. If that is
anti-capitalism then so is the concept of having shareholders.
Also this nation
was not founded on capaitalism and forms of financial/economic systems are
welcome. Although most here favor the capitalist model to imply its
anti-american to believe otherwise is simply crazy. The cold war is over. No
"godless" soviets are at the doorstep. Do what is best for the country
james  - seriously?   |2009-06-12 07:01:16
fuck you, RED BASTARD!... jk
mp921   |2009-06-12 13:28:36
Facts are facts james. would you brand everyone who doesn't agree with you
"Red" or anti-American. Plus what we have are managers not owners (see
the real capitalist & entreprenuers) running the capitalist market. They do what
is best for them. Big bonuses while shareholders lose. Read up on capitalism and
socialism for that matter before you brand anyone.
Long live the entreprenuers.
CK  - Capitalism   |2009-06-11 04:42:58
is an economic system in which wealth, and the means of producing wealth, are
privately owned and controlled for profit rather than by the state.

Go ahead
and change the national anthem while your at it and perhaps we should just
change our stars and stripes to a red flag with a fancy "O" on it?

This
is America where Capitalism has driven the "American Dream" for ages and
has been a huge contributing factor to our strength as a nation. It appears that
the Obama administration should do away with that too? I hate how fast this
administration has completely dismissed the premise in which our country was
founded and what makes it great.

-End Rant
james  - ..   |2009-06-12 07:01:55
you hate poor people:(
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