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Sen. Claire McCaskill's office says she's offered a bill capping pay at any company accepting federal bailout dollars.
The cap? What the President makes: $400,000 a year. (Barack Obama gets expense money in addition to the regular salary.)
McCaskill's plan would include salary, bonuses, and stock options. We don't know if it would include deferred compensation or perks -- like, say, $1 million to redo an office.
And give them a paycheck and the same benes federal employees get.
We'll see how many "Masters of the Universe" stick around to clean up the mess.
don't spend our money to bail them out. Then you don't have to worry about how much the CEO makes because it's not our money.
Those who say capitalism doesn't work are absolutely wrong. The reason we have these problems and will have greater ones in the future is because Government inserts itself thereby not allowing capitalism to work.
Our current problems are largely due to government intervention in the process. Whether it was the change forcing banks into making loans that shouldn't have been made resulting in banks going way beyond what they were forced to do or not allowing businesses to fail when they needed to fail government is the root cause of the problem existing today.
... Either the 18 BILLION in bonuses given in Dec., 2008 -- using taxpayer money -- was a terrible, but forgivible error easily undone by paying back the bonuses immediately, or...
... all these folks were engaged in a criminal conspiracy to misrepresent the nature of their need and the use of the federal money if received -- have undoubtedly used the mail or wires to further that conspiracy to defraud -- and all need to be put in prison.
A good prosecutor could have these greedy guys out of $5000 designer suits and into orange jump suits by the end of February.
As for the impact on the economy of "decapitating" Wall Street by locking up all these gifted CEOs? Do we seriously think an equal number of management level guys making $100K could have done WORSE?
It's embezzlement. String 'em up.
"We have a bunch of idiots on Wall Street that are kicking sand in the face of the American taxpayer," an enraged McCaskill said on the floor of the Senate. "They don't get it. These people are idiots. You can't use taxpayer money to pay out 18 billion dollars in bonuses."
Put 'em in shackles and parade them down Wall Street. Then put 'em on their own corporate jets and send them to Guantanamo.
Then... who cares.
The one big problem I can see is catering and food preparation facilities down there. The seafood should be fresh, but what about the vegetablesand pasta?
Are the facilities climate controlled to lay in a good vintage?
Will there be room in there for their personal assistants?
Can the military airport accomodate corporate jets?
May be a problem, but at least the Cohiba's should be accessible.
I imagine they will demand to be waterboarded with Evian.
I'm certainly a-ok with it. By why just give them the sensation of drowning?
Improve the food chain in the Florida Straits by creating new sentencing guidelines that prove to be eco-friendly.
To pump raw sewage into the Florida Straights?
Wouldn't you need evidence? (smile)
I am from a small town in Ohio, called Washington Court House, Ohio...you have all heard about DHL closing, well that is in the town next to us..they closed the plant down and we all lost 8000 jobs..also many of the plastic companies that make things for the car industries (Japanese plants) have all gone down to 3-4 eight hour days (when five months ago people in my town had no idea what was coming and they were working 50+ hours), we are losing our homes hand over fist and we are all screaming mad like your Senator...I applaud her beyond any words could say...We have unbelievably high unemployment in our state, especially here in Washington Court House, Ohio and Wilmington (did you think 8000 jobs was around the country, no it was Ohio only), we were all thriving around Wilmington and now the plastic company I watched come in because the vice president was a neighbor of mine and my stepfather helped bring in MacTools to this town and now MacTools has been gone for over 10 years and no one seemed to worry, now CalMar is leaving to go to Mexico by November...Our govenor and one of the state representatives (Govenor Strickland and Representative Sherrod Brown are trying their best to keep our towns and state from collapsing totally but its a race against time isn't it) but your Senator said it in a nutshell...every representatives, senators, govenors constiuents are angry, are upset at what these wallstreet executives did for their bonuses, these executives at the banks that gave themselves bonuses and how so many people were involved in setting people up to lose their life savings and now lives because they don't have anything to live on...did these people ever think...your Senator McCaskill is a good woman telling the trueth at the floor and to be brave enough to do it...Our govenor and state representative is having a hard time in Washington but in the meantime while they are in Washington more and more jobs are being lost every day and people are moving from our two cities by leaps and bounds because there is nothing to stay here for and those of us who are afraid to move what will be left for us and our children...Pleae Senator McCaskill tell me are these CEOs, Wall Street CEOs, Wall Street Tycoons so to speak, and the men who lost billions of dollars of good American people especially to these people in Washington Court House and Wilmington or overseas CEOs just stepping back and destroying our towns because it destroys our economy and those of us who had nothing to do with the decisions as to what company came in to our fair city they also robbed us of millions and a great future...our new schools won't have chilren going to them because we have almost all left...so Senator McCaskil bravo for your strong opinion and trying to get answers...hopefully President Obama makes these predators who destroyed the American dream for all of us especially here in Washington Court House, Ohio and Wilmington, Ohio..so from a mother who is single and disabled with three sons who are disabled with many handicaps and my family is looking at losing everything because Social Security wants us off Social Security but yet the couple down the street get Social Security for being a recovering aloholic even though we are told they don't pay for that anymore but they at Social Security do and my sons will go without medical coverage and monies for their spinal and brain surgeries coming up...what do I do as a sad mom of 3 miracles...why did I fight so long to get them here within the last eleven years...when these people are ripping off billions from the American people...Are these people going to jail, hard time, for committing fraud, embezeling, (yes my spelling is off sorry), robbed people of their life savings and retirement just like Enron who was the beginning of the end for Americans and the lying they have done to us saying that our society was safer than it really was and now they have brought our economy to its knees and now my handicapped children won't be able to get their catheterizing supplies, be able to have the equipment for their blood pressure, have their brain surgeries and their spinal surgeries because these people chose to defer all their winnings to their wives and/or their jewelry, homes and ill got gaines to their wives, children, partners and etc. but that is okay my sons won't be able to live a stable life because they drained everything from us...my oldest son has autism, ADHD, sensory issues and like his younger brothers has developmental delays and they are all on IEPs so who will fund that for them to get better schooling so they can be self sustaining at 18 or 21...they killed my dreams, your dreams, mine/your future children/grandchildrens futures because of their greet, disloyality to the American people, disloyality to America, stole not only our monies but our dreams, self respect, everything we worked hard for because they used the net to their advantage..thank you Senator...thank you...help us put these criminials away, take away their homes, jets, jewelry, etc. from them and put back into everyones retirments they stole from and they sit and rot in prison for hard time, not the white collar prison and stay there for life...thank you for letting me comment...but understand these people have made us all Angry...your Senator is right...and these people need to go to prison for hard time...thank you...Celeste
You shared a difficult story and one of the most worthwhile articles that I've read on Prime Buzz. I am certain it will find its way to Senator McCaskill.
We know your story, so courageously stated, is not unique in America.
Thank you for sharing it with the hope it impacts and makes things better.
January 7, 2009
McCaskill Calls for Oversight and Accountability in Stimulus Bill
Senator's Letter Echoes Obama's Call for No Earmarks
http://mccaskill.senate.gov/newsroom/record.cfm?id=306382
She made several very important points. During an interview a few days ago, Claire was non-committal on her opinion of the Stimulus Bill, which indicated to me that she has some issues with the bill.
First off, I am not anti-immigrant. This is just more of the same, using the so called global economy to screw it's workers, both American and Foreign. It may make good business expense, but to me more reeks of exploitation and profit making by whatever it takes. If this is the definition of "good management and business model", then someone needs to tezach all these MBA Professors that ethics needs to be factored in. It is a lack of ethics, and the rise of predatory capitalism that have destroyed our economy. Yes, destroyed.
AP Investigation: Banks sought foreign workers
By FRANK BASS and RITA BEAMISH (Associated Press Writers)
From Associated Press
February 01, 2009 9:10 AM EST
SANTA CLARA, Calif. - Banks collecting billions of dollars in federal bailout money sought government permission to bring thousands of foreign workers to the U.S. for high-paying jobs, according to an Associated Press review of visa applications.
The dozen banks receiving the biggest rescue packages, totaling more than $150 billion, requested visas for more than 21,800 foreign workers over the past six years for positions that included senior vice presidents, corporate lawyers, junior investment analysts and human resources specialists. The average annual salary for those jobs was $90,721, nearly twice the median income for all American households.
The figures are significant because they show that the bailed-out banks, being kept afloat with U.S. taxpayer money, actively sought to hire foreign workers instead of American workers. As the economic collapse worsened last year - with huge numbers of bank employees laid off - the numbers of visas sought by the dozen banks in AP's analysis increased by nearly one-third, from 3,258 in fiscal 2007 to 4,163 in fiscal 2008.
The AP reviewed visa applications the banks filed with the Labor Department under the H-1B visa program, which allows temporary employment of foreign workers in specialized-skill and advanced-degree positions.
It is unclear how many foreign workers the banks actually hired; the government does not release those details. The actual number is likely a fraction of the 21,800 foreign workers the banks sought to hire because the government limits the number of visas it grants to 85,000 each year among all U.S. employers.
During the last three months of 2008, the largest banks that received taxpayer loans announced more than 100,000 layoffs. The number of foreign workers included among those laid off is unknown.
Foreigners are attractive hires because companies have found ways to pay them less than American workers.
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Frank Bass reported from East Dover, Vt.
If they want bonuses they use their own money. If they go out of business another business will take their place.
Problem solved.
Sounds good to me for starters and the bill should...
be very explicit of how they will be audited to make sure the requirments are being met and if they are not met, they get their wages garnished by the people of the U.S.