The Last of the Wall Street Pay Cuts

The Last of the Wall Street Pay Cuts

..I took a cut in pay -.- I didn't get a bonus -.- PEOPLE TOOK MY MONEY -.- and now are crying about lost bonuses

WHERE IS MY MONEY ?.? WHERE ARE MY TAX DOLLARS ?.?

...WHERE IS MY PROFIT..

The Last of the Wall Street Pay Cuts

..We are now too advanced -.- and this will happen again.....they should think of the thirteen steps - in a gallows because they crashed at my expense...

Tar & Feathers - and not the cold type of tar, HOT TAR.....

I would like to welcome them to GITMO and all it uses

call it legal rendition - do not call the questioning torture...

YOU STOLE MY MONEY - can we atleast chop off your hands???

..

...It's hard to feel sorry for Madoff's clients - who didn't miss any meals - or really lose anything related to staying alive.....maybe they aren't sitting as high on the ladder now..

...my feeling would not be published - trust that

.

..Pick a state - insanity isn't listed

William Bednarz of NJ @ Oct 24, 2009 13:52:33 PM

Sign Petition to Get Them Out Of Government

GET THEM OUT OF GOVERNMENT - VIRTUAL MEETING (Meeting)

at http://my.barackobama.com/page/event/detail/meeting/gpc5tq

When you sign up for this event, you are saying to President Barack Obama - we want you to stop the bankrupting of our country by the large financial institutions, with policies and programs that give them taxpayer money with which they can gamble and make record profits.

We want Geithner, Summers, Bernanke, (Paulsen, Rubin) OUT and we want you to bring honest advocates of reform such as Elizabeth Warren and Brooksley Born IN.

Please watch Frontline's "The Warning" at http://www.pbs.org/wgbh/pages/frontline/warning/view/

ReferenDem of DC @ Oct 24, 2009 09:00:54 AM

Organized Chaos?

So which is it? Are the new wage control schemes launched by the Pay Czar and the Fed the acts of independent experts, or are they the closely controlled policy decisions of the Obama White House?

The answer to that question goes to the core of the very real constitutional problems that the proliferation of czars in the Obama administration creates. Obama appointed Feinberg to be his Pay Czar without any input from the American people and without any approval from Congress.

Ken of WI @ Oct 23, 2009 14:40:34 PM

CEO Compensation

".....shareholders have always had the ability to object to lavish pay, even when CEOs were raking in packages in excess of $100 million whether their firms prospered or not."

Sounds good. But this is not true! Compensation is determined by the board. And the board, although it is suppose to serve the interests of the owners (shareholders), all too often is in bed with the CEO and serves the interests of the CEO.

Corporate America has moved to a select ruling class, dominated by a few hundred CEOs and board members, who have gained control of the Fortune 500 publicly held companies and use this power to enrich themselves and their buddies at the expense of the shareholders, workers, and public.

We must find a way to create a control system to reasonably contain CEO compensation in the US. It has moved to absurdity. And it is to the detriment of shareholders, workers, and the public at large.

Under present corporate governance, the shareholders may have the right to vote when they receive proxies, but the votes are often rigged. For example, who suggest the candidates for board members? As a shareholder in many US firms, I have grown accustom to throwing away my proxy, because I have come to realize my vote is meaningless. My power as owner has been destroyed by the cozy relationship between CEOs and boards. I challenge anyone to show me a truly independent board of a public company that acts to protect the interests of the shareholders over the CEO's and board member's interests.

Our publicly held corporations will continue to disgrace themselves with outlandish CEO compensation packages until someone finds a way to control the board members. I have often felt that Vanguard and Fidelity have a fiduciary responsibility, as managers of staggering sums of investment dollars, to take a leading role in controlling CEO compensation. But, so far, such leadership has not emerged.

I am generally against government control and/or regulation of such issues. However, continued abuse shall someday lead to federal government control of CEO compensation and boards. That will create an interesting scenario. Greedy politicians controlling greedy businesspeople! What an absurd world we have created for ourselves, boys and girls.

PS - The politicians are even further out of control. Just look at the national debt. And the upward direction of our debt. And the velocity of said debt growth.

As a society, we have been so focused on the fat life that we have effectively left nothing for the next generations. What a shame. A replay of the Roman Empire.

Jim Bower of WA @ Oct 23, 2009 14:22:03 PM

The feudal system is alive and well in the USA.

We are no longer living in the founding fathers United States of America. We are living in discreetly disguised society that has reverted to nobility, the haves and have nots, where crime pays, especially if one fits into the current nobility class that we have allowed to exist. Congress persons who make more money their constituents and have benefits that the average person does not have, such as pensions, health insurance, and so forth.

Sonya of FL @ Oct 23, 2009 01:56:36 AM

Good idea!

This tells the top brass that while they may, indeed, have gotten bailed out, guess what? It's not going to be a pie-in-the-sky payday from now on.

Many are concerned about moral hazard, wherein execs will not exercise as much caution, knowing full well they'll get bailed out. If they want to keep the fat cat salary, though, it behooves them to steer the corporate ship so it doesn't end up in the hands of the government.

This way, government saved the jobs of the employees, the lesser paid folks with kids to support, but at the same time, the top brass watched the pay yet sliced and diced.

Not a bad idea, although I still have no clue why GM deserved a bailout. They simply don't make as great cars anymore; that's their own fault.

But whatever.

After the bailout, they got...a pay cut!

Brilliant idea to rescue/punish the top execs at the same time. Maybe more will try hard not to steer the ship right into the hands of a bailout, knowing it'll mean lower pay. : )

AK of IL @ Oct 22, 2009 20:53:15 PM