Another Obama Deception
Essentially shows that Obama removed pay limits on firms receiving bailouts, then when the AIG bonus blew up, he pushed through new limits on pay to please the masses. Then he made sure there were loopholes in the law to keep paying the bonuses...
Washington Post
Saturday, April 4, 2009; Page A01
The Obama administration is engineering its new bailout initiatives in a way that it believes will allow firms benefiting from the programs to avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials.
Administration officials have concluded that this approach is vital for persuading firms to participate in programs funded by the $700 billion financial rescue package.
The administration believes it can sidestep the rules because, in many cases, it has decided not to provide federal aid directly to financial companies, the sources said. Instead, the government has set up special entities that act as middlemen, channeling the bailout funds to the firms and, via this two-step process, stripping away the requirement that the restrictions be imposed, according to officials.
Blowback?
The story must have leaked before the Admin. could suppress it.
Check this out...
This article was posted up on MSN's homepage for a day and then when i went back to the link the next day it was removed and said it "expired" Very weird. See here:
http://www.msnbc.msn.com/id/30040075/
Atlas Shrugged
Decisions about executive pay should be between the executives and the shareholders.
1. Demand all TARP money back.
2. Let the clowns go bankrupt.
3. Cut spending.
4. Cut taxes.
5. Weather the recession storm as Ron Paul has suggested.
6. Audit the Fed.
7. Legalize hard currency.
In matters of style, swim with the current; in matters of principle, stand like a rock.
-- Thomas Jefferson
bump.
bump.
another bump.
another bump.
And another bump
lies and deception more of the same
one more
from Texas
"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has." ~ Margaret Mead