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Administration: Rein in pay in US private sector

Renae

Renae

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WASHINGTON (AP) -- The Obama administration says executive compensation must be better managed to prevent the sort of risk-taking that jeopardizes the economy.

Gene Sperling, who advises Treasury Secretary Timothy Geithner, said Thursday the administration does not want to impose caps on executive pay. But he also laid out for the House Financial Services Committee a list of guidelines calling on publicly-held companies to link compensation to long-term performance, not short-term gains.

Sperling said in prepared testimony that the administration believes compensation practices "must be better aligned with long-term value and prudent risk management at all firms, and not just for the financial services industry."
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Administration: Rein in pay in US private sector - Yahoo! Finance

Obama knows best children.

Isn't government... telling private business how to operate.. just a bit fascist?

In the economic sphere, many fascist leaders have claimed to support a "Third Way" in economic policy, which they believed superior to both the rampant individualism of unrestrained capitalism and the severe control of state communism.[10][11] This was to be achieved by a form of government control over business and labour (called "the corporate state" by Mussolini).[12][13] No common and concise definition exists for fascism and historians and political scientists disagree on what should be in any concise definition.[14]
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[ame=http://en.wikipedia.org/wiki/Fascism]Fascism - Wikipedia, the free encyclopedia[/ame]


Why.. yes Obama does seem to be economically.. quite the Fascist minded President.
 
MrVicchio said:
Isn't government... telling private business how to operate.. just a bit fascist?
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Giving a suggestion is not the same as telling them what to do.

Even in the article you quote is says:

the administration does not want to impose caps on executive pay.
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That darn Obama administration offering suggestions....
 
^^Hoover did the same thing and ruined the country for a few years.
 
Redress said:
That darn Obama administration offering suggestions....
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Well, since it's no Administration's business what pay is offered in the private sector for any job, yeah, Dear Leader and Tiny Tim need to shut up about pay.

Such "suggestions" are not needed and are most assuredly are not helpful.
 
celticlord said:
Well, since it's no Administration's business what pay is offered in the private sector for any job, yeah, Dear Leader and Tiny Tim need to shut up about pay.

Such "suggestions" are not needed and are most assuredly are not helpful.
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Ah yes, so the private sector is above criticism and no suggestions shall be taken or given in regards to that.

Sounds like conservatives are the ones acting Fascist saying that Obama is not allowed to make suggestions.

The 3rd Reich (AKA conservative movement) has spoken and Obama should obey. :roll:
 
celticlord said:
Well, since it's no Administration's business what pay is offered in the private sector for any job, yeah, Dear Leader and Tiny Tim need to shut up about pay.

Such "suggestions" are not needed and are most assuredly are not helpful.
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There is nothing, absolutely nothing wrong with suggesting that the pay model might be flawed. The administration is within their rights, and no harm has come of this. Look past your partisan blinders once in awhile.
 
Redress said:
That darn Obama administration offering suggestions....
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Suggestions are fine. You really think they'll stop at just "suggesting".

You ARE drinking that kool aide ain't ya?
 
TheNextEra said:
Ah yes, so the private sector is above criticism and no suggestions shall be taken or given in regards to that.
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No, O and Co. don't have the first clue how to run businesses and should STFU when it comes to telling them how to operate.

TheNextEra said:
Sounds like conservatives are the ones acting Fascist saying that Obama is not allowed to make suggestions.

The 3rd Reich (AKA conservative movement) has spoken and Obama should obey. :roll:
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Wow, you are weak today aren't you? You miss the point here, Obama has made it clear he wants to control pay, and with you lefties it always starts out with "suggestions" and then it becomes a court ordered affair when you don't get your way.
 
Redress said:
There is nothing, absolutely nothing wrong with suggesting that the pay model might be flawed. The administration is within their rights, and no harm has come of this. Look past your partisan blinders once in awhile.
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On Wednesday, it set pay limits on companies that receive TARP assistance, with the toughest restrictions aimed at seven recipients of "exceptional assistance." They are Citigroup Inc., Bank of America Corp., General Motors Corp., Chrysler LLC, American International Group Inc., GMAC LLC and Chrysler Financial.

The regulations limit top executives of companies that receive TARP funds to bonuses of no more than one-third of their annual salaries.

The administration named Kenneth Feinberg, a lawyer who oversaw payments to families of Sept. 11, 2001 terrorist attack victims, as a "special master" with power to reject pay plans he deems excessive at the seven companies with the biggest injections of public money. Feinberg also would have authority to review compensation for the top 100 salaried employees at those companies.
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US government seeks to rein in executive pay - Yahoo! Finance

I see they actually put their "suggestion" into practice. Why don't you take off YOUR blinders bud.
 
MrVicchio said:
Suggestions are fine. You really think they'll stop at just "suggesting".

You ARE drinking that kool aide ain't ya?
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Come complain when they don't stop, I will agree with you. Getting upset because Obama might do something, maybe, at some time in the future, possibly, maybe...well, it seems to be a waste of effort.
 
MrVicchio said:
No, O and Co. don't have the first clue how to run businesses and should STFU when it comes to telling them how to operate.
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Again, he can suggest whatever he wants. People saying he can't are the ones acting fascist.

MrVicchio said:
Wow, you are weak today aren't you? You miss the point here, Obama has made it clear he wants to control pay, and with you lefties it always starts out with "suggestions" and then it becomes a court ordered affair when you don't get your way.
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No he has not, and even your article says he doesn't want to control the pay.

You're paranoid and your hatred for Obama just blinds you.
 
TheNextEra said:
Ah yes, so the private sector is above criticism and no suggestions shall be taken or given in regards to that.

Sounds like conservatives are the ones acting Fascist saying that Obama is not allowed to make suggestions.

The 3rd Reich (AKA conservative movement) has spoken and Obama should obey. :roll:
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You need to study up on fascism.

Fascism is Dear Leader making those "suggestions". Which is why Dear Leader needs to shut his damn word-hole (that and the fact that he's a blithering idiot).
 
TheNextEra said:
YES. Anything otherwise is just paranoia from the right.
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Hoover's suggestions during the beginning of the Depression led to businesses keeping up wages despite not having the money. They were led to believe that by doing this, that they would see an increase in business: that prosperity was brought about by high wages and not the other way around. What it caused instead was massive unemployment and a huge rise in part-time workers. It was a disaster: it was all a suggestion.
 
Redress said:
Hey, that is not the same thing. That is setting limits for companies that took TARP funds. Nice try, but fail.
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Your right, they had the power to force it with the tarp funded companies. They want ALL companies to follow said "guidelines" You really think they won't seek to impose those limits on all companies?
 
Redress said:
There is nothing, absolutely nothing wrong with suggesting that the pay model might be flawed. The administration is within their rights, and no harm has come of this. Look past your partisan blinders once in awhile.
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"Flawed" pay models mean businesses are operating ineffectively and inefficiently. If that is the case the ultimate result is bankruptcy and failure, which is the proper corrective measure--and is the one measure Dear Leader acts to prevent and forestall.

No, the Administration is not within its rights, not even by a little bit, and yes, there is harm. The moment pay is driven by anything more than perceived value given--the moment pay is influenced by factors other than market factors (such as government and Dear Leader's "suggestions")--then the pay model is significantly and negatively distorted.

Governments do not and should not "suggest" pay models for the private sector. It is counterproductive. It is wrong. It is unacceptable.
 
Redress said:
Come complain when they don't stop, I will agree with you. Getting upset because Obama might do something, maybe, at some time in the future, possibly, maybe...well, it seems to be a waste of effort.
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First they came for the Communists but I was not a Communist so I did not speak out. Then they came for the Socialists and the Trade Unionists but I was not one of them, so I did not speak out. Then they came for the Jews but I was not Jewish so I did not speak out. And when they came for me, there was no one left to speak out for me.
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Delay leads to despotism. The time to "complain" is NOW.​
 
MrVicchio said:
Your right, they had the power to force it with the tarp funded companies. They want ALL companies to follow said "guidelines" You really think they won't seek to impose those limits on all companies?
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If they do, I will happily join with you in complaining about it. I will do something unique though and wait to complain till they actually do it. We seem to get three threads a day from people complaining about things Obama might do.
 
celticlord said:
"Flawed" pay models mean businesses are operating ineffectively and inefficiently. If that is the case the ultimate result is bankruptcy and failure, which is the proper corrective measure--and is the one measure Dear Leader acts to prevent and forestall.

No, the Administration is not within its rights, not even by a little bit, and yes, there is harm. The moment pay is driven by anything more than perceived value given--the moment pay is influenced by factors other than market factors (such as government and Dear Leader's "suggestions")--then the pay model is significantly and negatively distorted.

Governments do not and should not "suggest" pay models for the private sector. It is counterproductive. It is wrong. It is unacceptable.
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That is not what the guy said and you know it. He said pay should be based on long term, not short. Stop being so disingenuous.
 
Redress, why do you not respond to my twice posting about Hoover's intervention through suggestions?
 
Redress said:
Your two quotes are totally unrelated, and your paranoia is showing.
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Hardly. Your attitude of "I'll complain when it hurts me" and the consequences thereof is exactly what Niemoller was referencing.

In a republican democracy, wherein it is deemed beneficial to circumscribe government power, the correct response to every government effort to enlarge their power beyond their proper sphere is swift, immediate, and unceasing criticism.

The correct response is to tell government to stop.

"Wait and see" is the wrong response. Every time.
 
celticlord said:
Hardly. Your attitude of "I'll complain when it hurts me" and the consequences thereof is exactly what Niemoller was referencing.

In a republican democracy, wherein it is deemed beneficial to circumscribe government power, the correct response to every government effort to enlarge their power beyond their proper sphere is swift, immediate, and unceasing criticism.

The correct response is to tell government to stop.

"Wait and see" is the wrong response. Every time.
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There is no "I'll complain when it hurts me", there is a "I'll complain when he actually does something wrong". There are more than a few things he has done wrong, that is what makes all these nothing threads so bad, they draw attention away from the real things.
 
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