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Thread: Senate passes sweeping Wall Street reform

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by obvious Child View Post
    Wow. I didn't know you were trying to take the Ignorant King's throne.

    First of all, TARP related pay caps are a good thing as it creates incentive NOT TO TAKE GOVERNMENT MONEY IN THE FIRST PLACE. Frankly, IMO, if you ran your company into the ground, you should not even be paid. That said, taking over car companies does not equate to having some say on the board.

    I guess you think the government is telling GM and Chrysler what models to make, what lines speeds they can run, what parts they can use, so and so forth.

    It amuses me how people who ignorantly defended Bush now ignorantly attack Obama.
    Don't want to be labeled as ignorant here, but doesn't being a major shareholder of a company by definition me that you "have a say on the board"...?


    .

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by Cole View Post
    Don't want to be labeled as ignorant here, but doesn't being a major shareholder of a company by definition me that you "have a say on the board"...?
    .
    Not with preferred stock. Unless it's convertible and then you convert which the government has not. True, you could get a board seat by mandating that any loans taken give you a seat, but preferred stock itself does not grant that.
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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by RightinNYC View Post
    This is true as applied to many of the recipients, but doesn't really work for those firms that were ordered to accept TARP money.
    Of course, but as we've seen, those who were ordered to take it came out like Kings. Effectively, it was an investment. Lower pay for higher returns later. I wonder what GS's ROI is on that. It's got to be massive considering their position now.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by obvious Child View Post
    Wow. I didn't know you were trying to take the Ignorant King's throne.

    First of all, TARP related pay caps are a good thing as it creates incentive NOT TO TAKE GOVERNMENT MONEY IN THE FIRST PLACE. Frankly, IMO, if you ran your company into the ground, you should not even be paid. That said, taking over car companies does not equate to having some say on the board.

    I guess you think the government is telling GM and Chrysler what models to make, what lines speeds they can run, what parts they can use, so and so forth.

    It amuses me how people who ignorantly defended Bush now ignorantly attack Obama.
    The government put their CEO in place so yes the government is running the company.


    A federal reserve board will now control what companies can do. Next you will say Obama will have no say who is on the board and Obama will have no influence on the board.

    I say this is more control from a control freak in the White House.

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by obvious Child View Post
    Remember, anything ptif219 believes is true to him. Owning preferred stocks = managerial control.

    LOL. There's a reason i'm not a Republican. I refuse to associate myself with the crazy lot of that party.



    Yes.
    Did GM and the Banks get told how to run their procedures? No.
    Did GM and the Banks get told who they can and can't sell to? No.
    Did GM and the Banks get their corporate structure redone by the government? No.

    Tell me, does preferred stock give you voting rights? Let's see just how little you understand of the subject.
    So firing CEO'S and saying who replaces them is not taking control?

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by ptif219 View Post
    So firing CEO'S and saying who replaces them is not taking control?
    That may have happened in a movie or a dream, but we're all talking about REAL LIFE.

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by hazlnut View Post
    That may have happened in a movie or a dream, but we're all talking about REAL LIFE.
    Which was this, movie or dream?

    General Motors Corp. Chief Executive Officer Rick Wagoner will step down after more than eight years running the largest U.S. automaker, people familiar with the situation said.

    The Obama administration asked Wagoner, 56, to leave the company and he agreed, said an administration official who declined to be identified before the move was announced. The likely replacement, unless the government hires from outside the company, would be Chief Operating Officer Fritz Henderson, said John Casesa, managing partner at New York-based consulting firm Casesa Shapiro Group.
    General Motors Chief Rick Wagoner Said to Step Down (Update4) - Bloomberg.com


    GM chief Wagoner ousted by Obama

    The chief executive of struggling US car company General Motors has been ordered to step down by US President Barack Obama.

    Rick Wagoner will leave immediately, a government official confirmed.
    BBC NEWS | Business | GM chief Wagoner ousted by Obama
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by hazlnut View Post
    That may have happened in a movie or a dream, but we're all talking about REAL LIFE.
    What about GM

    GM CEO resigns at Obama's behest - Mike Allen and Josh Gerstein - POLITICO.com

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by ptif219 View Post
    The government put their CEO in place so yes the government is running the company.
    By that measure the stockholders who vote for the CEO are running the company.

    Excuse me for a second while I go out side and fall down laughing at you.

    A federal reserve board will now control what companies can do.
    Since when....?

    So firing CEO'S and saying who replaces them is not taking control?
    Not in the aspect you are implying.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by obvious Child View Post
    By that measure the stockholders who vote for the CEO are running the company.

    Excuse me for a second while I go out side and fall down laughing at you.



    Since when....?



    Not in the aspect you are implying.
    No the government did this not stock holders

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