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#1122796 - 02/04/09 06:07 PM And so it begins...
HappyGilmore Offline
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Pulling people out of the ditc...
Obama caps executive pay tied to bailout money

Quote:
President Barack Obama on Wednesday imposed $500,000 caps on senior executive pay for the most distressed financial institutions receiving federal bailout money, saying Americans are upset with "executives being rewarded for failure."


Wonder if he will take these same steps with the heads of the Post Office, FEMA, Health & Human Services, IRS, and many other government agencies that are replete with failures and boondoggles?
Last edited by rotaredoM yppaH; 02/04/09 06:08 PM.
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#1122802 - 02/04/09 06:11 PM Re: And so it begins... HappyGilmore
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First, he has to find some appointees that actually pay their taxes.
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#1122878 - 02/04/09 07:07 PM Re: And so it begins... Big Dog
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The second step to a nationalized banking program.....(the first step was getting that government ownership piece).....
crazy
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#1122880 - 02/04/09 07:08 PM Re: And so it begins... RBanker
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How long before Washington sets specific dollar amounts that these banks must lend out for specific loan products?

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#1122886 - 02/04/09 07:15 PM Re: And so it begins... straw
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How long until thee CEOs say, "Fine, you want to play this way... take your stinken money back".

This all reminds me of the little brat down the street who was always changing the rules of the game as you went along.
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#1122906 - 02/04/09 07:28 PM Re: And so it begins... DD Regs
MB Guy Offline
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Way, way south.
Originally Posted By: DD-Man
How long until thee CEOs say, "Fine, you want to play this way... take your stinken money back".

This all reminds me of the little brat down the street who was always changing the rules of the game as you went along.


Sounds good to me; give it all back.
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#1122928 - 02/04/09 07:43 PM Re: And so it begins... MB Guy
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this tactic worked real well after Enron and Worldcom........

y'all will note this policy would not be retroactive to the first TARP recipients, I am golden baby!

and all those rules about congress critters not enriching themselves by being lobbyists and consultants - that worked real well too since Mr. HHS Dascle only made $5 million in the last 2 years.....
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#1122932 - 02/04/09 07:46 PM Re: And so it begins... HappyGilmore
Yossarian Offline
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Quote:
Wonder if he will take these same steps with the heads of the Post Office, FEMA, Health & Human Services, IRS, and many other government agencies that are replete with failures and boondoggles?


Well, none of them make $500,000 per year, so those same steps wouldn't do much in their cases.

And on his first full day he already froze the salaries of members of his administration who make over $100,000 per year.

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#1122940 - 02/04/09 07:52 PM Re: And so it begins... Yossarian
Pale Rider Offline
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Originally Posted By: Yossarian
[quote]
And on his first full day he already froze the salaries of members of his administration who make over $100,000 per year.



people in the private sector actually produce something though!

this is just nuts; you cannot take over the responsibility of shareholders and boards to set policy.
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#1122942 - 02/04/09 07:53 PM Re: And so it begins... Pale Rider
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The socialization of America continues . . . .
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#1122957 - 02/04/09 08:03 PM Re: And so it begins... KC Danimal
Hrothgar Geiger Offline
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socialization - the process by which a human being beginning at infancy acquires the habits, beliefs, and accumulated knowledge of society through education and training for adult status

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#1122966 - 02/04/09 08:07 PM Re: And so it begins... Pale Rider
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Originally Posted By: Pale Rider
this is just nuts; you cannot take over the responsibility of shareholders and boards to set policy.



Even when those Boards did nothing to prevent (through oversight) a financial crisis that has affected all Americans?

Something has to be done.

And the Bank's are not innocent parties to this country's financial distress.
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#1122978 - 02/04/09 08:13 PM Re: And so it begins... A_G
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And they are by far the only guilty parties. However, they are nowhere near innocent.
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#1122981 - 02/04/09 08:13 PM Re: And so it begins... A_G
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is the one and only "guilty party" ^^^^^^^^ smirk

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#1123005 - 02/04/09 08:27 PM Re: And so it begins... Yossarian
HappyGilmore Offline
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Pulling people out of the ditc...
Originally Posted By: Yossarian
Quote:
Wonder if he will take these same steps with the heads of the Post Office, FEMA, Health & Human Services, IRS, and many other government agencies that are replete with failures and boondoggles?


Well, none of them make $500,000 per year, so those same steps wouldn't do much in their cases.

And on his first full day he already froze the salaries of members of his administration who make over $100,000 per year.


salary aside, chowderhead, I'm more concerned with the accountability of government agencies and holding those to the same standards he is holding others to...

total compensation for Postmaster General tops $863,000 per year with incentives, long-term pay, pension benefits, etc...wouldn't surprise to see that many others are there as well
Last edited by rotaredoM yppaH; 02/04/09 09:38 PM. Reason: updating pay
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#1123010 - 02/04/09 08:30 PM Re: And so it begins... HappyGilmore
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Agreed.

See my new thread re: SEC
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#1123013 - 02/04/09 08:32 PM Re: And so it begins... A_G
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Originally Posted By: AuditGuy
See my new thread re: SEC


Apparently LSU did great recruiting.
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#1123025 - 02/04/09 08:37 PM Re: And so it begins... Hrothgar Geiger
KC Danimal Offline
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noun
1. a political theory advocating state ownership of industry
2. an economic system based on state ownership of capital
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#1123161 - 02/04/09 09:53 PM Re: And so it begins... HappyGilmore
Yossarian Offline
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Quote:
total compensation for Postmaster General tops $863,000 per year with incentives, long-term pay, pension benefits, etc


Nice bit of deception. The actual annual salary of the Postmaster General is $263,575. To reach this fictional amount of over $800,000 requires, among other things, taking the value of his pension benefits that will be taken over many years and adding it to his salary as though it wil be paid out every year. Postmaster General

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#1123169 - 02/04/09 09:57 PM Re: And so it begins... KC Danimal
Yossarian Offline
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Originally Posted By: KC Danimal
noun
1. a political theory advocating state ownership of industry
2. an economic system based on state ownership of capital


He defined "socialization", which is the word you actually used. You defined "socialism", an entirely different word.

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#1123170 - 02/04/09 09:58 PM Re: And so it begins... Yossarian
HappyGilmore Offline
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Pulling people out of the ditc...
Originally Posted By: Yossarian
Quote:
total compensation for Postmaster General tops $863,000 per year with incentives, long-term pay, pension benefits, etc


Nice bit of deception. The actual annual salary of the Postmaster General is $263,575. To reach this fictional amount of over $800,000 requires, among other things, taking the value of his pension benefits that will be taken over many years and adding it to his salary as though it wil be paid out every year. Postmaster General


and what part of the above did I deceive on? Great job ignoring what I wrote...
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#1123196 - 02/04/09 10:22 PM Re: And so it begins... Yossarian
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Originally Posted By: Yossarian
Quote:
total compensation for Postmaster General tops $863,000 per year with incentives, long-term pay, pension benefits, etc

Nice bit of deception. The actual annual salary of the Postmaster General is $263,575. To reach this fictional amount of over $800,000 requires, among other things, taking the value of his pension benefits that will be taken over many years and adding it to his salary as though it wil be paid out every year. Postmaster General

And??? I have to put fictional numbers in the proxy every year with things like the value of my underwater stock options awarded. The McCaskill bill (I'm not familiar with Obama's proposal today) was going to address deferred comp - why not address the postmaster's?

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#1123203 - 02/04/09 10:27 PM Re: And so it begins... HappyGilmore
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Quote:
and what part of the above did I deceive on?


The number includes not just pension contributions but the change in the value of his pension! What your retirement fund earns is not yearly compensation - it's a return on the value of an asset that you already own.

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#1123208 - 02/04/09 10:29 PM Re: And so it begins... Jokerman
straw Offline
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Yoss is correct of course. The annual salary is the figure Yoss quoted. Since Happy said total compensation, there was no deception as deferred compensation gets factored into ...
total compensation.

So, you are both correct, since Happy is discussing apples and Yoss is discussing oranges.

Just to clarify any confusion that Yoss may have caused by trying to correct Happy.

Feel free to further clarify my clarification of your correction.

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#1123216 - 02/04/09 10:34 PM Re: And so it begins... Yossarian
HappyGilmore Offline
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Pulling people out of the ditc...
Originally Posted By: Yossarian
Quote:
and what part of the above did I deceive on?


The number includes not just pension contributions but the change in the value of his pension! What your retirement fund earns is not yearly compensation - it's a return on the value of an asset that you already own.


Again, great job not reading what I wrote. I said his "total compensation" not "yearly compensation"...and did you even read what you linked?

Quote:
The compensation figure that you refer to ($857,459) is not annual salary; it represents deferred income he will receive after he leaves the position and other types of compensation.

The actual annual salary of the Postmaster General is $263,575.


$381,496 is the estimated change in the future value of Civil Service Retirement benefits to be paid out (as it would be with any CSRS retiree) over the PMG’s remaining life-time once retired — perhaps 35 years.


$135,041 is incentive and performance compensation and will be paid out in 10 annual installments beginning when the PMG leave postal employment.


$69,253 is security costs spent on the PMG and charged to his total compensation.


The remaining money pays for various benefits such as life insurance and perquisites like parking, physical exams, and spousal travel.


security costs for the PMG? Like someone is going to kidnap him for stamps? Spousal travel? Now that's funny...
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