White House to Cut Pay of 7 Bailed Out Firms Up To 90%
October 21, 2009
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3 Responses to “White House to Cut Pay of 7 Bailed Out Firms Up To 90%”
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The government stole our money through taxes and used it to purchase
control of big banks.
Big government already had indirect control of banks through the Fed,
Fannie&Freddie, and policies such as “Too Big To Fail” – all of
which led to the economic collapse.
Now the control is no longer indirect. Washington now directly
controls banks.
Washington should have let bad banks fail instead of giving them your
money and then nationalizing them.
Of course, most people don’t care Obama took their money and gave
it to the banks, they’re just upset that the banks took it and made
profits.
Apparently stealing and then giving away blood money is fine, but
legally accepting it is bad.
How does the government intend to keep these businesses competitive when the top business minds in these particular companies will move elsewhere to get properly compensated for their efforts. Altruism is fine in fantasy land, however we are dealing with the harsh reality of a competitive business environment that is going to see the energy and intellect of these companies stripped dry.
[...] promised yesterday by the Treasury Department and Kenneth Feinberg, the special master for compensation, further details and limitations on [...]