90% paycuts for top execs of bailed out companies.

Discussion in 'Politics, Religion, Social Issues' started by Zombie Acorn, Oct 21, 2009.

  1. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #1
    I would rather have not had to bail them out at all, I think this is fine as long as they were propped up by the government. The only adverse effects is that these executives aren't on lock so less qualified people might take over and make ill use of our forced "investment" as tax payers.

    If the execs start crying the government should just require them to liquidate to pay the money back immediately.

    Top pay for failure? I think not.

     
  2. Sky Blue Guest

    Sky Blue

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    #2
    :rolleyes:
     
  3. Peace macrumors Core

    Peace

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    #3
    Less qualified? Aren't these exec's the same ones that caused the companies to go belly up ?.

    If anything a new exec. might be better than keeping the old ones.
     
  4. yg17 macrumors G5

    yg17

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    #4
    I think a retarded baby gorilla would be more qualified than these CEOs.
     
  5. leekohler macrumors G5

    leekohler

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    #5
    That's what I was going to say.

    Shouldn't Glen Beck be screaming about "socialism" right now? ;)
     
  6. Sun Baked macrumors G5

    Sun Baked

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    #6
    Hopefully, the strong urging to bring the rest of the people below "in line" won't be pushed beyond middle management.

    If they take aim at highly compensated sales teams and brokers, it'll get painful for the company. Enough competition where the cream of the crop that carries the rest can bail taking a bunch of client names with them.
     
  7. leekohler macrumors G5

    leekohler

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    #7
    The cream of the crop obviously weren't very creamy.

    If those execs are the cream of the crop, any company who hires them is in a hell of a lot of trouble.
     
  8. GoCubsGo macrumors Nehalem

    GoCubsGo

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    #8
    Well that is a good thing if you ask me. I'd prefer a firing and no golden parachute, but a 90% pay cut isn't so bad either.
     
  9. Zombie Acorn thread starter macrumors 65816

    Zombie Acorn

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    #9
    To be fair I knew a couple lower execs from another site who were working in profitable branches of AIG before and after the bank tank, so it wasn't all execs who were bad.

    Some of these execs have changed also, but they should realize the company is government property now and tax payers should be paid back before they receive lavish compensation.
     
  10. Peace macrumors Core

    Peace

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    #10
    That I agree with completely.
     
  11. Zombie Acorn thread starter macrumors 65816

    Zombie Acorn

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    #11
    Hes a pay czar, thats pretty much the same as a compensation czar.
     
  12. Peace macrumors Core

    Peace

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    #12

    You do know Bush had more "czars" than Obama right ?
     
  13. Zombie Acorn thread starter macrumors 65816

    Zombie Acorn

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    #13
    Whats it matter? The guy is known as the pay czar, compensation czar is basically the same thing.

    Would you rather him be called a compensation adviser?
     
  14. leekohler macrumors G5

    leekohler

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    #14
    I really don't think it matters.

    (waits for Beck rant about "socialism" to pop up) :)
     
  15. Peace macrumors Core

    Peace

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    #15
    The only reason it mattered was you seemed to be putting an emphasize on the term "czar" as a bad,evil Obama thing.

    Sorry if I took it the wrong way.
     
  16. Zombie Acorn thread starter macrumors 65816

    Zombie Acorn

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    #16
    I didn't write that article :p

    I will edit my original post to make it more clear where the article starts and my opinion ends. I commented on top and then posted the article below the link.
     
  17. Sky Blue Guest

    Sky Blue

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    #17
    I don't think it was OP, probably from the Fox News website, but I'm not following the link. They couldn't give him his official title, they had use their little "crony" version. Same old Fox ********.
     
  18. Peace macrumors Core

    Peace

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    #18
    Let it be known that I personally dislike the term czar no matter who uses it. Be it Republican or Democrat.

    I also dislike the term "homeland security". That one makes me sick.
     
  19. Zombie Acorn thread starter macrumors 65816

    Zombie Acorn

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    #19
    I don't know which way WSJ leans but they use the term czar too, it seems rather popular. Personally i would have never used the term if I was a politician.
     
  20. Dont Hurt Me macrumors 603

    Dont Hurt Me

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    #20
    This is a good thing, all these guys are overpaid and sit in a win win situation even after running their companys into the ground. They really all should be fired. Lets face it if we performed as bad as these guys did at their jobs the same would happen to us. The Auto guys going to Congress in private jets was just amazing and shows how out of touch these bastards are. The wallstreet guys should all be pushing brooms somewhere...no thats to good for these guys they should be fired! These guys do nothing but move paper and make millions. And we get the bill just nuts. Its time for a new congress that isnt bought off by these scumbags.
     
  21. Shivetya macrumors 65816

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    #21
    If they are under contract for specific pay rate I don't see how the courts will support the government. If anything it will lead to more organizations to shun the federal government possibly leading to real damage to the economy as its better to go through bankruptcy than have a gun held to your head.
     
  22. rdowns macrumors Penryn

    rdowns

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    #22
    I certainly don't want the government dictating anything other than a minimum wage but in this instance, I'm all for it. Sadly, it's a gesture that comes way too late.

    These banks are still floating their companies and earning profits with our money. Forget the TARP crap, that was a drop in the bucket. They got tens of billion from the Fed, FDIC and others. How the eff are these banks raking in so much money and using our money as capital and borrowing at zero % interest while increasing the interest they charge.
     
  23. acurafan macrumors 6502a

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    #23
    calling these guys 'scumbags' is putting it mildly. frankly they all should be shot, between them and those real estate scumbags - helped lose a generation's worth of wealth.

    btw, where is good 'old boy 'government sachs' on the list, those bishes got our tax money...supposedly they paid it back, but we all that's a crock of B******T. they had a hand in the AIG dog-poop.

    at least liberal obama is doing something about it, ...everything i hear of this it makes me so mad :mad::mad::mad:
     
  24. rdowns macrumors Penryn

    rdowns

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    #24

    Of course GS paid back their TARP money. They were paid out at 100% on their insurance by AIG, with our money. Not only that, we let them change from an investment bank to a regular bank so they were able to borrow at 0% and dip into that sweet Fed and FDIC money.
     
  25. macfan881 macrumors 68020

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    #25
    actaully before people blame obama for this wich it will the Bail out was all bushes doing
     

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