Dodd, gaeitner knew about the bonuses months before the fake indignation this past week. They ok'd the bonuses, and now they act outraged?! These guys are hypocrites.
That is the best line. Conversely, extreme Leftists believe the State should own/run the corporations. (Mao, Castro, Chavez, etc)
The proper thing to do is let these companies go bankrupt. They can restructure or in the case of AIG, their divisions could be sold off. (many of their divisions are still highly successful) Plus, bankruptcy would negate the liability of bonuses. It's too bad we let the Leftists print money. It's like letting Michael Moore into Willie Wonka's chocolate factory.
Best line in the interview is what Ann says at the conclusion: "Right wingers are all for people making money when they are successful, but NOT when they're not successful!"
You reward success, but you don't reward failure. Bankruptcy, not bailouts, is the right-wing solution.
Because of the AIG bonus fallout, Citi among other corporations are increasing executive salaries again. They deemed it more cost effective than the bonus packages. Actually, they always did but as Kato pointed out, Congress forced this scenario.
These are only 'tax payer funded bonuses' because the government nationalized AIG instead of letting it go bankrupt and allowing it's divisions to be sold off. Bankruptcy would've allowed AIG to default on it's bonus obligations. But it wouldn't allow the Statists to steal one of the largest corporations on earth.
As Glen Beck pointed out today, that is the Corporatism that Mussolini spoke about in his Fascist doctrine. Well . . . Obama promised change.
Congresswoman Jan Schakowsky was just on Cavuto talking about the AIG bonuses. She said she would propose a bill that would simply tax the bonuses at 100%. What a precedent.
In 1993, Congress felt that evil corporate executives were making too much money. So Congress severely limited the tax deductibility of executive pay packages. The result was that corporations had to enter into binding contracts to defer compensation.
Those 'bonuses' are in reality, payment for previous service which the government would not allow them to be paid for. Again, because Congress (and envious voters) couldn't stomach them making so much money. (regardless of a strong economy)
Like Ann said, right wingers have no problem with people making money when they're successful. Executive Pay is an issue for the executives and the share holders. Not Congress and/or voters with inferiority complex's.
That is the best line. Conversely, extreme Leftists believe the State should own/run the corporations. (Mao, Castro, Chavez, etc)
The proper thing to do is let these companies go bankrupt. They can restructure or in the case of AIG, their divisions could be sold off. (many of their divisions are still highly successful) Plus, bankruptcy would negate the liability of bonuses. It's too bad we let the Leftists print money. It's like letting Michael Moore into Willie Wonka's chocolate factory.
You reward success, but you don't reward failure. Bankruptcy, not bailouts, is the right-wing solution.
"Fascism should more properly be called corporatism because it is the merger of state and corporate power." - Mussolini
80% of AIG now belongs to the State. How many banks now belong to the State? And who are the Fascists???
Because of the AIG bonus fallout, Citi among other corporations are increasing executive salaries again. They deemed it more cost effective than the bonus packages. Actually, they always did but as Kato pointed out, Congress forced this scenario.
These are only 'tax payer funded bonuses' because the government nationalized AIG instead of letting it go bankrupt and allowing it's divisions to be sold off. Bankruptcy would've allowed AIG to default on it's bonus obligations. But it wouldn't allow the Statists to steal one of the largest corporations on earth.
As Glen Beck pointed out today, that is the Corporatism that Mussolini spoke about in his Fascist doctrine. Well . . . Obama promised change.
Congresswoman Jan Schakowsky was just on Cavuto talking about the AIG bonuses. She said she would propose a bill that would simply tax the bonuses at 100%. What a precedent.
In 1993, Congress felt that evil corporate executives were making too much money. So Congress severely limited the tax deductibility of executive pay packages. The result was that corporations had to enter into binding contracts to defer compensation.
Those 'bonuses' are in reality, payment for previous service which the government would not allow them to be paid for. Again, because Congress (and envious voters) couldn't stomach them making so much money. (regardless of a strong economy)
Like Ann said, right wingers have no problem with people making money when they're successful. Executive Pay is an issue for the executives and the share holders. Not Congress and/or voters with inferiority complex's.
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