
Debate Room: Let CEOs Make Do with $500,000 - gibsonf1
http://www.businessweek.com/debateroom/archives/2009/02/let_ceos_make_d.html
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anateus
The point that some may ignore is that this is intended to apply ONLY to banks
which the government props up.

In that light, I think that limiting flat pay is a very good idea. More
emphasis should be placed on direct performance incentives to encourage
repaying the taxpayers.

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Tangurena
If they don't like the pay caps, they shouldn't take the bailout money. If
they were as 'good' as they (and their apologists) think they are, then they
would not be in the situation where they need to be bailed out.

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Tangurena
And it looks like they aren't willing to live with the caps:

 _Bank of America Corp., JPMorgan Chase & Co. and Morgan Stanley may decide
after enduring yesterday's Congressional hearing that the old Troubled Asset
Relief Program is more trouble than it's worth._

 _Eight chief executive officers of the biggest U.S. banks heard lawmakers in
Washington criticize their bonuses, underwriting fees and perks. Rep. Emanuel
Cleaver, a Missouri Democrat, read questions from angry constituents asking
what banks had done with taxpayer money they’d taken from the $700 billion
TARP fund, and Rep. Michael Capuano, a Massachusetts Democrat, said he "cannot
believe no one has prosecuted you."_

{snip}

 _Frank told the bankers if they don't like the restrictions on the government
aid, they should return the funds._

 _"We will take it," Frank said. "If there are any obstacles to you giving it
back, we will undo those obstacles."_
[http://www.bloomberg.com/apps/news?pid=20601087&sid=aP6x...](http://www.bloomberg.com/apps/news?pid=20601087&sid=aP6xr9LsyklY&refer=home)

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ieatpaste
socially, reasonable. economically, unnecessary.

socialism, anyone?

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run4yourlives
It's socialism to control the pay of your employees? After all, the US
government has "invested" more money in these banks than anyone else. What are
they if not the owners?

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ieatpaste
No, it's not socialism to control the pay of employees; however, "the US
government 'investing' more money in these banks" is socialism.

Essentially, it's a form of normalization of classes and we broke capitalism
through state control. While we don't have a pure form of capitalism, we are
become more moderate, where we are heading towards socialism/communism on the
politic-economic scale.

Furthermore, please do not downmod because you disagree. Though the socialism
comment was in jest, I was not grossly off-topic. Please read the community's
comments regarding karma.

