AP source: White House to order sharp pay cuts for top executives at big bailout companies

When the WH administration is done with the CEO's maybe they will cut congress's pay next? They've had a really bad 20yrs...

Yea if the Government is going to cut pay for not producing results for over paid stuffed shirts they should start with congress!!

Since when does Congress, or Obamas minions have any responsibility or Right to control payscales within the private sector? The correct answer is that they DON'T. If they DO try to control pay, then the best and brightest will leave for other venues.

Government entities have NO BUSINESS inserting their fat, sticky fingers in this area, unless, of course, they are out to destroy business and the economy.

Government never creates, it only destroys.

Since the problem came from the stimulus bailout for these companies, we now have the push and pull. The CEOs still want their big money and the taxpayers (who I'm sure didn't want to be put in this situation anyway-there was a gun at their heads) now own a good share in the companies.

Too bad the government felt it needed to "own" AIG, GM, Citicorp, Chrysler, Bank of America or whoever else took stimulus money. Payback time already? Congress forgot about any control, rules,tracking or guidelines. It did know that it could boss around those who took the money.

Maybe government didn't have enough vision to see where all this was going to lead and with the taxpayers screaming about spending being out of control has to start tightening its belt and look better before election time.

There should never have been a mindset by the government that any company is too big to fail. Nature should have been left to take its course.

Many of these companys lost money due to governmental misregulation in the first place (CRA, HOI, CAFE, EPA regulations, poor accounting standards, tax liabilities, union promotion, EEOC, etc). Now the Feds (Obama, Geithner) have used Tarp to control and effectively destroy the remainder of these industrys. If they should try to unreasonably control top management pay scales, these managers, and their teams, will leave, putting management into second and third rate hands, and the governments hands (which has never run a lemonade stand). These companys are doomed, should this come to pass. When they die, so will all supporting industrys.

This is a national disaster in the offing. Why in H3LL would Obama, Geithner, and Feinberg ever think this can possibly ever work? These dolts are worse than idiots to think so, and subversives if they know it won't!

cj- They have overwhelmingly been suported by both sides of the isle for this action.

I guess as usual you are out in the cold by yourself!!!

I guess politicians have forgotten there will be a re-election? I can't wait until we get to vote out some of these knuckle heads. Let's just hope there is still a glimmer of what America stands for by the time we get a chance to do so.

karl42 wrote:

cj- They have overwhelmingly been suported by both sides of the isle for this action.

"They" who or what?

And WHAT has been supported by both sides of the AISLE? The destruction of business? The misregulation(s)? Governmental business ownership? Support by Snowe and Spectre cannot really be called "both sides of the aisle" - Spectre IS a Dem, now, and Snowe might as well be.

karl42 wrote:

...They have overwhelmingly been suported by both sides of the isle for this action.

"They" who or what?

And WHAT has been supported by both sides of the AISLE? The destruction of business? The misregulation(s)? Governmental business ownership? Support by Snowe and Spectre cannot really be called "both sides of the aisle" - Spectre IS a Dem, now, and Snowe might as well be.