barney frank wants to control payroll now

#2
#2
I understand the idea behind the measure and can understand why it would make sense to the idiots on Capitol Hill. I don't understand why they have failed to actually look at how the investment banks and outfits like AIG operate. They are simply setting the stage for failure.

If he wants to apply those rules to folks like GM, they might make some sense (I can't really imagine how), but it is simply assurance of failure on an around Wall Street.
 
#3
#3
I'm all for them imposing a "pay for your approval rating percentage in Congress" bill that would base their pay on their approval rating. It would work like this: Lets say your approval rating is 20%......you would then get 20% of what the average person in America takes home. Sounds fair to me!
 
#4
#4
Awesome, pay for performace. Can we execute this for government employees? You know, since they operate on borrowed money everyday.
 
#6
#6
allvol123 said:
Awesome, pay for performace. Can we execute this for government employees? You know, since they operate on borrowed money everyday.
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i just wish they would get voted out of office. there are so many sheep in America that think this is great.
 
#8
#8
BigPapaVol said:
do you believe we could replace them with something better?
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My father was involved in local politics for a while when he was younger. His view of politicians is that after 4 or 5 years in office they begin to change. That drive to help make things better is usually lost and "the politics" take over and they begin to change. As I've grown up and followed politics myself I have started to come to the conclusion that he was right.

Can we do better? Certainly, but career politicians get in the way of progress more often than not.
 
#12
#12
droski said:
this is truly scary stuff.
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I'm OK with it as long as he keeps the stupidity to only those companies borrowing directly from the gov't. It's a death sentence for those companies, but their alternative was probably close when they made the decision to lean on the taxpayer.
 
#13
#13
BigPapaVol said:
I'm OK with it as long as he keeps the stupidity to only those companies borrowing directly from the gov't. It's a death sentence for those companies, but their alternative was probably close when they made the decision to lean on the taxpayer.
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But what about long term implications here, what is to stop them from lowering the pay not only of executives but ground floor employees who live paycheck to paycheck? I realize this is not the intent but it could be used to target these people in the future.
 
#14
#14
BigPapaVol said:
I'm OK with it as long as he keeps the stupidity to only those companies borrowing directly from the gov't. It's a death sentence for those companies, but their alternative was probably close when they made the decision to lean on the taxpayer.
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what about those companies that took tarp money even though they didn't need it and actually loaned it out per the agreement?

and does the american taxpayer really want a death sentance to companies like bank of america and citibank?
 
#15
#15
droski said:
what about those companies that took tarp money even though they didn't need it and actually loaned it out per the agreement?

and do we really want a death sentance to companies like bank of america and citibank?
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they'll be paying it back promptly.

BofA and Citi will again subdivide to split the investment banking operations from the commercial bank. It's OK if the commercial bank caps pay because it is what it is. The performers don't need to be. They need to be the old school automatons that everyone grew accustomed to.
 
#18
#18
DC Vol said:
We've got a non-career politician in the office. So I say:

"Yes, we can"
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You don't think a life full of political activism qualifies here? He may not have been in office for ten years now but being a product of the Chicago political machine = 20 years in office.....in the worst possible way.
 
#19
#19
KB5252 said:
I'm all for them imposing a "pay for your approval rating percentage in Congress" bill that would base their pay on their approval rating. It would work like this: Lets say your approval rating is 20%......you would then get 20% of what the average person in America takes home. Sounds fair to me!
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I'm all for it.
 
#20
#20
Congress also voted an automatic pay raise every year. We ( fed employees) only got a 2% raise this year, less than inflation. Screw the Dems.
 
#21
#21
MG1968 said:
keep on believing that
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KB5252 said:
You don't think a life full of political activism qualifies here? He may not have been in office for ten years now but being a product of the Chicago political machine = 20 years in office.....in the worst possible way.
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See: Sarcasm


One of his lies Campaign Slogans was that he wasn't going to do things "The Washington Way" because he wasn't involved in politics for very long. And the ignorant amongst us ate it up.
 
#22
#22
From Benjamin Franklin to Barney Frank = rise and fall of a nation???

barney-frank-tim-geithner-ben-bernake.jpg


In a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the “Pay for Performance Act of 2009,” would impose government controls on the pay of all employees — not just top executives — of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.
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obama_contempt.jpg


Fascism now!

What do you call it when Obama makes moves to take over the auto industry? A coupe d'etat.

If Obama can fire the head of .... a legendary corporation like GM and then order its business plan to be rewritten according to his wishes, presidential power has become unlimited. We no longer live in the United States of America that is guided by a Constitution based on the limited power of government. We live in a tyranny, and we're all subject to the whims of one man.
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#23
#23
Am I the only one that gets a particularly unpleasant thought in my head when I see/hear "Barney Frank"? I vomit just a little in my mouth every single time.
 
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