GM CEO Gets Lots Of Money For A Bad Job
Feb 20, 2010 Political
So can anyone tell me how it is that Obama and his radical minions are able to tell banks and financial institutions that received bailout money what their executive compensation can be but can’t do that for GM? Government Motors (formerly General Motors) received lots of taxpayer money and failed to pay it back but now its executives are getting big money.
General Motors Co. CEO Ed Whitacre will receive a salary of $1.7 million this year, plus stock awards that will bring his total pay package to $9 million at a later date, the automaker said Friday.
In a surprise announcement, GM also said former CEO Fritz Henderson has been rehired as a consultant. Henderson, who was forced out of the job in December, will work 20 hours a month and will be paid $59,090 a month, the company said. Yahoo
Obama and his buddies at ACORN can rail against executive pay and Barney Frank, the Banking Queen, can scream about limiting pay for executives of ALL companies but they seem to be silent over the huge CEO compensation at GM.
How can it be that Obama will scold CEOs for how much they make and tell us that those who ran the company into the ground should not be paid well (as if it is his decision to make) but his car company can spend money on huge executive compensation? How can that be?
Private companies in America need to tell Obama and Frank and the rest of the radicals in DC to mind their own damn business and to stay out of the private sector. The easiest way to do that is to stop ALL donations to politicians. After that a simple letter telling Congress and Obama to shut the hell up and mind their own business should suffice.
Government does not belong in private industry and if the pols in DC don’t like it then that is just too bad.
They keep screwing around and there are plenty of countries that are much less expensive to do business in.
How would members of Congress like to explain why a bunch of jobs in their districts and states went away because of government meddling?
No matter what, these people at GM do not deserve any of this money until the taxpayer is completely repaid. We own that company and we should get paid first. Of course, the rules are a little different for Obama and his supporters (like the UAW).
So let us do ourselves a favor and ignore GM. Don’t buy any of their vehicles and let’s put them out of business. They should have failed some time ago and we propped them up as Obama took them over. Now his CEO is getting big money.
Bankrupt them once and for all so they can go under and something else can take over.
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Tags: compensation, gm, lies, Obama, regulation, socialism, wall street
Abandoning The Free Market Will Not Fix It
Dec 17, 2008 Political
The economic tough times we are going through are the result of many things. But one thing is certain and that is the tough times are not the result of free market principles. The free market takes care of issues unless there is intervention from outside influences. In this case, the socialistic practices and greed of past administrations and American businesses have combined to cause the problem.
The idea that we need to give people loans for houses they cannot afford is not a free market principle. Forcing companies to pay a minimum wage that government sets based on some arbitrary target rather than the supply and demand of a workforce is not free market. Allowing businesses to hire illegals for well under the market price for a job is not part of the free market. Developing gimmicky investment vehicles in order to turn a quick buck at the expense of others is unethical and not free market. Too much government intervention is not part of the free market and it stifles growth. Combine this with politicians lining their pockets at our expense and we have a recipe for disaster. These are the reasons we got into trouble.
However, President Bush and the Congress failed to see all this and they decided that the best way to fix things was to interfere even more in the free market so that it could go further into chaos. The financial bailout was an intervention that should never have happened. The economic collapse should not have happened but politicians decided that everyone needed a home and investors decided that they needed get rich quick schemes. Then, when it all went south the government got more involved and infused taxpayer money into the mess. The 700 billion dollars has morphed into trillions of dollars in bailouts and there is no end in sight. None of it has helped the economy because the infusion of money only prolongs the pain and delays the inevitable.
President Bush says that he abandoned free market principles to save the economy. He is only partly right. Free market principles were abandoned a long time ago. He is only doing more of the same of what has been going on and it will not help one bit. George Bush is using Socialism to try and fix a free market system when Socialism caused the problem.
Businesses should make it or fail on their own. Bankers and Wall Street tycoons should be left to fail. When they made billions of dollars they did not rush to DC to give money to the government and they did not hand it out to the taxpayer. When they got in trouble they had their hands in taxpayer pockets for help. They should fail. There will always be another ready to step in and take their place. This goes for the Big Three auto makers as well. If they are unable to make it then they should go under and someone can take over and buy them out or they can cease to be.
George Bush saying that he abandoned free market principles to save the economy is like a priest saying he abandoned religion to save people’s souls. It is like saying that we abandon morality to make people more moral. It is ridiculous and it makes absolutely no sense whatsoever.
We need to get BACK to free market principles and let the situation influence the outcome. Employers can pay what the market will bear not what politicians dictate. People who cannot afford their homes can lose them and learn from the experience. Auto makers can file for bankruptcy and renegotiate the contracts with the UAW or they can go under and the union workers can be unemployed.
The reality is, we need to use the free market to get out of this mess and stop creating bigger problems by throwing more and more money down a hole. More money will not help and it will certainly make things worse because we do not have the money and must borrow it. We are going deeper and deeper in debt in a scheme that will not work.
We need to get government out of our business and let the market dictate what business survives and what does not. Darwin had that part right.
George Bush cannot abandon the free market and expect things to change. They will not get better and things will certainly get worse. We only need to look at the Great Depression to see that government intervention allowed it to go on much longer than it should have.
Mr. President, one does not fix the free market by abandoning the free market. One allows it to correct itself as it has done time and again when politicians were not screwing things up.
Sacrificing free market principles is what caused this mess in the first place.
Source:
Breitbart
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Tags: bailout, Bush, free market, socialism, wall street
Taxpayers Write Economic Stimulus Checks
Oct 3, 2008 Political
The House passed the Senate version of the 700 billion dollar economic stimulus bill that requires taxpayers, their children and grandchildren to write checks to the government in order to pay the tab. The final vote was 263-171 in favor of raping taxpayers in order to pay for the failed policies of the Democratic party and their refusal to listen to warnings from people in the Bush administration.
Nancy Pelosi was smiling as she praised Barney Frank for his leadership and masterful skill in negotiating this bill. Barny Frank is the dim bulb who said that there was no problem with Fannie Mae and Freddie Mac, the entities widely recognized as the root of the problem. Bill O’Reilly beat Frank to death last night over this issue but Frank was too dense to acknowledge his complicity in the process.
The amount of money that the taxpayer is forced to cough up for this bailout is staggering and anyone who thinks that 700 billion is the end of it is nuts. This number was a guess and there is no guarantee that it will do what everyone hopes it will. It is possible that the money will be infused into the market and it will still tank and we will be back where we started but much poorer. The Congressional answer will be more money.
Barack Obama will add trillions of dollars of spending if he becomes president, especially if he has a big enough majority in both chambers. These people are writing checks that future generations will be working to cash. To top it off they are promising more regulation coming from the same people who ignored the problem or failed to see it coming despite repeated warning.
America, it is time to take control of government. We must vote every member of the House out of office. Show them your displeasure. Do not let them fool you by saying they voted no because they were politically protected from the vote in order to secure your vote and their jobs. Get rid of all of them and the one thrid of the Senate that is up for reelection.
We must take control of our country. They do not listen to us. They just do what they want despite overwhelming objection from the public. They are spending our money like drunken sailors on shore leave [apologies to sailors] and it has to stop. The only way we can do that is to make them pay for their failures.
Just say no to incumbents.
Tags: bailout, screwed, taxpayer, wall street
Who Is Responsible For This Financial Mess?
Sep 25, 2008 Political
Barack Obama and his fellow Democrats have been putting the blame for the current financial crisis on the back of the president and the Republican Party who Democrats claim failed to address the issue. The Democrat’s parrots in the media have been shouting to anyone who will listen trying to make the accusations stick. This is a coordinated attack to take the focus off all the Democrats who have been bought and paid for by the greedy people on Wall Street. Fox News had a story and this should provide documented proof, with audio and video, as to whom the blame lies. In reality, this news story shows the efforts of the Bush Administration in trying to reign in the mortgage giants, Fannie Mae and Freddie Mac. The complete history goes back decades and involves Democratic plans that allowed people to buy things they had no hope of ever affording.
I doubt this will do any good because too many people have overdosed on the moonbat Kool Aid, but it clearly shows that there were a number of people, including President Bush, on multiple occasions who tried to reign in Fannie and Freddie. Pay attention to Barney Frank and see how his assessment squares with the reality we’re facing. Listen to the people who said that we were heading for trouble and see how Democratic Senator Chuck Schumer had a hand in preventing any regulation.
Then take heart in the knowledge that Nancy Pelosi assigned Barney Frank the job of fixing the problem.
How can one fix something if one does not recognize the problem?
You should also keep in mind that these are the people who want to lead you. While John McCain headed back to DC, Barack Obama prepared for a debate and fund raising (he was left with little option than to return after a call from the President).
Who puts the country first?
Riehl World View says that Palin should debate Obama while McCain is TCB in DC. Not a bad idea. Could be risky but she is not a member of Congress so she does not have to be there and Obama has no intention of staying in DC.
Tags: barney frank, chuck schumer, corruption, financial trouble, lies, wall street