New Executive Compensation Limits Will End Corporate Greed Forever
President Obama and his Treasury sidekick TurboTim Geithner announced this morning a series of new policies regarding executive compensation, because many impoverished taxpayers — perhaps you are one of them! — seem uncomfortable with the idea of bailing out corporations whose CEOs take home millions of dollars in salary, bonuses and stock options.
So here's how it'll work from now on:
Under the new rules, companies that receive "exceptional assistance" from taxpayers may not pay any top executive more than $500,000 a year, an administration official said. Any additional compensation would have to be in restricted stock that will not vest until taxpayers have been repaid, the official said….
All banks will face tougher disclosure rules, which will affect spending on matter such as aviation services, office renovations, entertainment and holiday parties, conferences and events, and golden parachutes.
In other words, the days of the $1.2 million executive office upgrade are over.
From now on, that'll be $1.2 million for "architectural risk management and compliance services."
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I am SO glad I lived to see this!
From oversight, to defense, to infrastructure, to education. Republicans BROKE govt., with nothing but tax cuts for their fat cat friends, who then broke our economy, and got us hooked, on foreign oil.
Time to break the cycle.
Buy American.
the only way out of this, is to get America working again. Nobody is going to buy your Ponzi scheme Wall St. credit BS, until we can afford to make the payments. Most of us are still in Bush's Ditch. Flat broke.
Dig Yourself Out of The Ditch Via the Eco-Economy, and let's get America rolling again.
Bring on The Volt.
Crack down, on lie mongers who promise patriotism, yet linger in multinational America-hating offshore outsourcing schemes.
Time for America to be The Good Cop, again, and put a cop on the beat, to do Govt.'s good work, and watch the markets. Because an unwatched market, speculates its way, to a manipulated market. A manipulated market, is not a free market.
Then there's this.
http://firedoglake.com/2009/02/04/welcome-america-to-your-sizzlin-larry-summers-shitburger/#more-36808