Sunday, February 15, 2009

 

Changes to Executive Pay

You cannot make this stuff up folks. I laughed out loud when I read this story this morning. Now that Obama has made a big splash on TV ranting about Executive pay, he seems to be changing his tune. Now honestly I really want this guy to succeed as President, but it is starting to look like amateur hour at the White House. He is looking more like the Dems of old and many politicians on both sides of the aisle as he says one thing but does another. Why didn't he get the bill changed before he agreed to sign it. Did his people not read it first.

Obama better get Congress in line because Barney Frank and Nancy Pelosi and the like think they are the President now. But I cannot believe that Obama is going to sign the bill and then have it changed. It is more about the image than actually doing the right thing and we have too much of that in Washington right now as it is.

White House Considers Changes to Executive Pay Limits Outlined in Stimulus Bill

The Obama administration wants to work with lawmakers to revise portion of spending plan that limits the amount of bonuses executives at financial firms can earn.

WASHINGTON -- Facing a stricter approach to limiting executive bonuses than it had favored, the Obama administration wants to revise that part of the stimulus package even after it becomes law, White House officials said Sunday.

While President Barack Obama plans to sign the $787 billion stimulus bill in Denver on Tuesday, his administration will seek changes in the government's approach to executive compensation, senior Obama adviser David Axelrod said.

Obama press secretary Robert Gibbs, appearing on CBS's "Face the Nation," also said the administration would seek to "strike the right balance" on the compensation question by discussing changes in the provisions with House and Senate members. Asked if Obama would enforce the bill and was satisfied with it, Gibbs replied, "We will sign this bill into law on Tuesday."

"Mr. Gibbs may not like it, but it is going to be enforced," Rep. Barney Frank, chairman of the House Financial Services Committee, said on CBS. "This is not an option. This is not, frankly, the Bush administration, where they're going to issue a signing statement and refuse to enforce it. They will enforce it."

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# posted by Ingineer66 @ 2/15/2009 12:04:00 PM
Comments:
He had a different idea on it all along but Congress has some say in it. No? You want a dictatorship? You might if you liked how Bush ran things. Personally, if they are going to get our money, I want their rewards limited. The fear is the good guys will leave their jobs. Uh if they are failing and need a bail out, maybe they are not the good guys and somebody new is a good idea, someone young, bright and hungry. Since when is old and failing worthy of bonuses. I think Congress did the right thing.
# posted by Blogger Rain Trueax : February 15, 2009 at 3:05 PM
 
I do not agree with Congress. Maybe I was not clear. I agree that Obama needs to re-evaluate what the bill says on this issue. But he announced a big love fest and that he was signing it. Then the next day on the Sunday shows they talk about how Obama is not going to obey the law that he is going to sign. He needs to grow a set and stand up to the Dem leadership in Congress or they are going to run all over him.

My problem with Obama so far is he seems to be saying one thing and doing another and doing it in a big way. I know all politicians do this and sometimes it is required. What I do not like is that Clinton and Obama both made a big stink about how they were different and would not do this and here we are in his first month and he is not doing what he says on a regular basis.
# posted by Blogger Ingineer66 : February 15, 2009 at 6:01 PM
 
To me it sounds like it's a different interpretation of what he originally said he'd do. I understood one thing. You understood another. I did pay attention, read his site, and saw a man who said he would compromise and who was more in the middle than the left or right claimed. To me what he is saying now is partly influenced by Geithner who I don't like at all and never have.

Since obama has been in one month, how about waiting to see how this is going to go and judging him by the results, not the process. He is more result oriented than how he gets there.

Those like you who didn't want him, naturally will look at him more critically than those like me who did. I think we should wait and see how this goes. I frankly wanted a limit on executive pay for those companies who have failed. To me a bonus for them is a farce. Bonus for goofing up and taking government money?
# posted by Blogger Rain Trueax : February 15, 2009 at 6:08 PM
 
I agree if you failed then you should not get a bonus. And I am critical of Obama because I did not want a democrat. But I do want him to succeed and I do like many things about him. I am mostly mad at Congress and maybe I am taking out my frustration on him.
# posted by Blogger Ingineer66 : February 15, 2009 at 6:37 PM
 
I think everyone is mad at Congress. Why people keep voting these people in is beyond me :(
# posted by Blogger Rain Trueax : February 15, 2009 at 8:33 PM
 
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