Executive Pay: Treasury to Set Top Compensation At 7 Companies

nytimes.com:

WASHINGTON -- The Obama administration's sweeping new proposal to restrict executive pay is likely to be a humbling exercise for seven of the nation's largest companies, which have received billions of dollars in federal assistance to survive the economic crisis.

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Read the whole story: nytimes.com

Comments

[5hy56]

The recovery is a forest. People have let their credit cards go, and don"t have mortgage payments it looks as if we are spending more and people have disposable incomes again. Actually, savings are getting drained and there are no new jobs. We are in the calm before the storm. People are spending what every little cash they have left on eating out and shopping for smaller ticket items. This will come to an end in 6 months. There are no new jobs. Can you hear the quiet in America?

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[5hy56]

The market just doesn't seem to care. No one cares about financial institution corruption, bad banks, recession, job loss, hyperinflation. It's just buy buy buy, Thanks to automation technology, outsourcing, in sourcing, free market capitalism/globalization, jobless recoveries are inevitable, sadly, for all future recessions. I predict baseline unemployment will rise from the historical average of 4-5& to 7-8% within the next decade, but the stock market & GDP will keep rising. Higher unemployment will be the new normal. Stocks that benefit from this phase shift are multinationals, high tech, and commodity.

one of my new favorite finance websites: http://lin.cr/qj4.cr/qj4 ">Econ & Finance Articles Updated Daily

Politicians will do noting to impede this transition because they lack the power to restrain hypercapitalism, and because they are often paid off. kow it is tim

[5hy56]

The market just doesn't seem to care. No one cares about financial institution corruption, bad banks, recession, job loss, hyperinflation. It's just buy buy buy, Thanks to automation technology, outsourcing, in sourcing, free market capitalism/globalization, jobless recoveries are inevitable, sadly, for all future recessions. I predict baseline unemployment will rise from the historical average of 4-5& to 7-8% within the next decade, but the stock market & GDP will keep rising. Higher unemployment will be the new normal. Stocks that benefit from this phase shift are multinationals, high tech, and commodity.

one of my new favorite finance websites: http://lin.cr/qj4.cr/qj4 ">Econ & Finance Articles Updated Daily

Politicians will do noting to impede this transition because they lack the power to restrain hypercapitalism, and because they are often paid off.

[PhilipTaylor]

This has Geithner and Wall Street Banksters all over it!

Another narrow do nothing package that does not even focus on the worst offenders:

Goldman ($100 Million Christmas Bonuses), JPM, Merrill, and Morgan who all took ill-gotten money from every source they could deceive and then skimmed these ill-gotten funds into executives pockets, all the time hiding toxic debts "OFF-THE-BOOK" or using the removal of "MARK-TO-MARKET" TO L 1 E about the value of the toxic debts they are willing to show "ON-THE-BOOKS."

So a few scapegoats at a few companies - NO BIG DEAL!

[TJCole]

300,000 Americans lost their homes and were foreclosed upon last month, 300,000 that's 100,000 more than Katrian in one month before that 1,000,000.00 foreclosed..an Obama is worried about the pay of banksters...not people..

[jeliz]

Exactly why is the American taxpayer getting screwed again? Why doesn't Treasury Tim just take all those bonuses and put them towards our new health care system as a down payment.

[4TJefferson]

How about prevailing minimum wage or pounding rocks?!

[glockman]

When are we just going to take a match to the constitution and the rule of law?

[petef59]

These executives are working for the public at this time. Our representatives have the right to impose conditions on their employment. Burn the gas you're blowin out your arse.

[glockman]

No they don't. The bail outs were illegal, too.

[Raster]

A joke at taxpayers expense. Does anybody think they won't be overpaid?

[delta7777]

.
the lead line:
“Treasury to Approve pay for Execs at 7 Bailed Out Companies”

makes you want it to read:
“Treasury to Dispprove pay for Execs at 7 Bailed Out Companies”

you would think that instead of being paid, these excessively greedy
executives should be made to pay back the money they have stolen
from the shareholders under the guise of "pay", and when that figure
becomes too egregious to swallow, euphimestically call it "compensation".

they should also be held accountable to the taxpayer on both
civil and criminal charges for the devastation their wantonly
corrupt practices have wreaked on the US and world economy.

The idea that those who caused this mess
should be paid for it at all is disgusting.
.

[BannedNBoston]

I think if a CEO is paid a million a year hes less likly to cook the books than if paid 9 million.

THE GREATER SUCKER STOCK MARKET THEORY;
http://www.brasschecktv.com/page/641.html

[munki]

so called... American Wall Street Soap Opera

[marvm]

gee what wrong with cap on pay they do it in sports also this why they rethugs dont want health care reform no cap on charges the doctor and hospital need a cap on their charges this will also bring down the cost also cap was ins co charges cap stop the greed

[silentknight65]

I agree with you, but What part of "Corrupt Republicans" don't you understand???

[expired]

NYT' s feed, Fox News feed, WaPo feed, and Post feeds, Politico Feeds. Hmmm HP, what's up with that?

[constitutional 1]

We should limit the pay on politicians while they have a deficit

[ssfahrer]

Actually, there is already a salary limit for members of Congress AND the President. What more do you want?

[RJII]

pay for performance.

[glockman]

How about a pay reduction. Besides, you know quite well they are handsomely paid for speaking endorsements, by lobbyists, etc. Politicians make much more than what we pay them for the little bit of work they do.

[jane gutowski]

I agree . While they are in a deficit they get no perks and they get a paycut and I bet they woudnt be so dismissive over taxpayer anger over money they lose and cant quite figure out where it went.Obviously we dont have to worry about the great minds of congress jumping ship and working somewhere else as their incompetence wouldnt be tolerated anywhere else.

[Obammi2012]

Total credit market debt as a percentage of GDP has risen from 130% of GDP in 1952 to 350%
of GDP today. The various bailout and stimulus schemes enacted in the last year will drive
this percentage above 400% in the near future. When a country allows this much debt to
accumulate versus its GDP, they have done something seriously wrong. The country’s
politicians, business leaders, and citizens have all contributed to this disaster.

one of my new favorite finance websites: http://kl.am/tsc.am/tsc ">Econ & Finance Articles Updated Daily

Having said that, unless we rethink the way we use our wealth, this world is doomed.