Archive for Wednesday, February 11, 2009

Bailout bonuses

February 11, 2009

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To the editor:

Thank you, President Obama, for requiring limits on CEO compensation for companies that will be receiving U.S. taxpayers’ bailout money. Finally, we have a president who actually represents the hard-working average Americans in this country.

For eight long years, we had a president who blatantly only cared about the wealthiest 10 percent in this nation. Greedy CEOs accepted $18 billion in taxpayer compensation last year under Bush, while millions of their fellow Americans lost their jobs, homes and health care. It is, indeed, very unfortunate that the $18 billion cannot be recovered; it is protected because it was already given to them by Bush.

It is a national disgrace for these CEOs to make billions of dollars on the backs of the hard-working men and women of our great country. Thank you, again, President Obama, for standing up for us regular Joes. Keep up the good work!

Bruce Paster,
Eudora

Comments

labmonkey 6 years, 2 months ago

These limits that Obama announced are actually voluntary. The only manditory limits are for the firms that receive "exceptional" aid...and only three firms are classified as receiving exceptional aid: AIG, BOA, and Citibank. And guess what...AIG, BOA, and Citibank have been exempted!!! So again...Obama is all talk.

notajayhawk 6 years, 2 months ago

Liberty_One (Anonymous) says… "This was just a symbolic move for the suckers like Bruce here. He's still confiscating your wealth and giving it to someone else."Um, Liberty, I think you missed the point of our dear LTE-writing friend. It wasn't okay for Bush because Bruce thinks they were somehow taking something away from him, but it's okay for Obamawan Kenobe because Bruce thinks somehow he's gonna' get something out of it. It doesn't matter that the current pres is doing the same thing (actually much, much worse) than his predecessor, what matters is his supporters all believe they're gonna' be the ones on the receiving end of the handouts.

KayCee 6 years, 2 months ago

"This is too funny"My thoughts as well. Bruce doesn't have a clue"Obama is all talk."Yea, and his 'talk' the other night sure didn't show any clear understanding of issues.The 'wet behind the ears KID' has no idea how to run the country, but his supporters still praise him. LOL

jaywalker 6 years, 2 months ago

The real joke here is Bush being excoriated for something that was overwhelmingly approved by Congress, a Democrat-dominant Congress:Herald Tribune: "The vote was 263 to 171, with a number of Democrats and Republicans switching sides to give the rescue package a majority. More Republicans continued to oppose the measure than support it, however.The Senate approved the plan Wednesday night by 74 to 25, after adding a portfolio of popular tax provisions. The bill now heads to President George W. Bush, who has promised to sign it."And the further hilarity comes from the morons like Douglascountysucks who continue to wag their fingers at Bush over this, deluding themselves by pretending that if Obama had been in the White House he wouldn't have done the exact same thing.

Steve Clark 6 years, 2 months ago

I can see you all are having fun here, but lets not miss the forest for the [Rush L.] trees. The results of the past eight years, by any measure and by anyone's measure other than the absolute wealthy, have been disastrous. Something has to be done, and I don't think more tax cuts for the wealthy, or more $1000 tax rebate checks are gonna work. Washington is a mess, true, but thank goodness someone [Obama] is trying to do some actual heavy lifting for all our sakes. Let's hope either he's successful, or someone else comes up with a better idea that actually addresses the problems.

Poon 6 years, 2 months ago

Thank you, President Obama, for requiring limits on fire hydrant hiking for big dogs that will be receiving bones funded by US taxpayers bailout money. Finally, we have a president who actually represents the hard-working average miniature dogs in this country.For eight long years, we had a president who blatantly only cared about the biggest Rottweilers, Saint Bernards, Great Pyrenees, and Boxers in this nation. Greedy Big Dogs hiked 18 billion fire hydrants last year under Bush, while millions of their fellow Chihuahuas and Toy Poodles lost their fire hydrants, signs, and tires. It is, indeed, very unfortunate that the 18 billion fire hydrants can not be recovered; they are protected because they were already given to them by Bush.It is a national disgrace for these gigantic breeds to hike billions of fire hydrants at the expense of the hard-working Chihuahuas and Toy Poodles of our great country. Thank you, again, President Obama, for standing up for us regular pups. Keep up the good work!Fido,Eudora

mightyquin 6 years, 2 months ago

Some of the posters here are as bad as the people we have in congress. Too busy pointing fingers or pushing their own agendas to actually DO anything substantial to resolve the economic crisis. This country was built on compromise and neither side seems willing to do that. We all need to put the past behind us and look to find what will actually help create jobs, save peoples homes, and provide for the future stability of the economy.

Poon 6 years, 2 months ago

But Quin, then we would have to get off our buts and think for ourselves. Oh sure, our grandparents could stand on their own two feet, but it is sooooooo much easier just to sit around and hope the government bails us out.

mightyquin 6 years, 2 months ago

Poon, I am afraid your words are truer than you might think!

Godot 6 years, 2 months ago

"Hey republicans , at least Obama is putting some sort of restrictions on the money use.The Bush money? nobody can trace a single dime of it"Ummmm, in case you haven't noticed, Timmy the Tax Cheat Geithner is the one who proposed the TARP, and who demanded complete control over the money, and who failed miserably, and who, because of his complete and utter incompetence and lack of ethics, was promoted by the Big O to the post of Secretary of the Treasury.His new proposal for spending the second $350 Billion of the TARP is such a blatant transfer of taxpayer money to the banks and the hedge funds, that even the Wallstreet traders booed him when he made his announcement.

notajayhawk 6 years, 2 months ago

normal_entire_route, have you actually read the bill? Perhaps you ought to before you start praising Obama's heavy lifting.

Flap Doodle 6 years, 2 months ago

Is the O'dude going to cap Panetta's fees when he soaks companies that have received bailout money?

Godot 6 years, 2 months ago

XD40, thanks for that article. This bill is so unbelievably bad that its passage should be considered a crime.

james bush 6 years, 2 months ago

Now the dems are fully entrenched and there will be a money for everybody!

salad 6 years, 2 months ago

"what matters is his supporters all believe they're gonna' be the ones on the receiving end of the handouts."You mean like the handouts that Bush gave everyone? Twice? How come THAT didn't stick in the craw of all repugnicans??? Obama will have a hard time wrecking the economy after Bush has had his way with it. Can only go up from here.

Flap Doodle 6 years, 2 months ago

"Obama will have a hard time wrecking the economy after Bush has had his way with it."With Pelosi & Reid's help, I'm sure the O'dude can muddle through to an epic fail.

staff04 6 years, 2 months ago

"His new proposal for spending the second $350 Billion of the TARP is such a blatant transfer of taxpayer money to the banks and the hedge funds, that even the Wallstreet traders booed him when he made his announcement."Godot, I'm sorry, but this is the dumbest thing that has been posted on this topic.Wall Street BOOED him because he wanted to give them money? Are you dizzy?

budwhysir 6 years, 2 months ago

Yes thank you for limiting the amounts these clowns can take AFTER we paid them all they needed for a while out of the first bail out go around. And imagine that, not a letter like this written during the Bush admin? Everyone should remember, there are no little people in Washington.

james bush 6 years, 2 months ago

I still find it hard to believe that cutting payroll taxes is not the best stimulus for people in this country. How can it be that so many ACORN-type, something-for-nothing organizations have gotten their people into control? Is it George Soros and his Move-on bloggers?.........or is it the incompetence of Bush!?

Richard Heckler 6 years, 2 months ago

Stimulating the economy will require major steps: ending the mideast invasion/occupation. The world does not accept this concept and USA citizens cannot afford $3 trillion dollar wars Stop electing the PNAC Republican war machine to elected positions :a. http://www.ecapc.org/pnac.aspb. http://www.oldamericancentury.org/pnac.htmc. http://www.informationclearinghouse.info/article1665.htmd. all incumbent republican candidates subscribe to PNACe. the world has no respect for the republican PNAC war machineNext: New source for jobs jobs jobs that cannot be outsourced Demand National Health Insurance - this will save tons of money for 95% of citizens Increase expenditures in public education and Vocational Technical Training a significant tax break to the middle class - this increases spending and they pay the bills. Stop bailing out Wall Street - That money would be better spent on National Health Insurance or Vocational-Technical educationStop the corporate american welfare free lunch program. Local taxpayers get burned :http://www.democracynow.org/2008/1/18/free_lunch_how_the_wealthiest_americansCorporate american free lunch money would be better spent on National Health Insurance,Public Education and Vocational-Technical education

JHOK32 6 years, 2 months ago

It still doesn't make sense to me where the dem blamers get their rationales that Bush had no responsibility for the first bailout. I watch the news every day and I did not hear one dem proposing the first "stimulus" bailout. The first time I heard anything about it was when W was on all the TV stations looking like a whipped puppy dog crying that the sky was falling and unless we bailout these huge banks & insurance companies the entire world was going to come to an end in about 3 hours. Was it not then that congress began debating the bailout after Bush scared the hell out of the whole country? I'm not saying I want any of this stimulus money? if we can put millions of Americans back to work building new bridges, water plants, roads, sewer plants......all things we actually use collectively every day, then why not? Makes sense to me. What burns my butt is when the richest people in the country get their greedy hands on this money & give themselves million dollar bonuses & buy new private jets, take lavish vacations........this is bull manure. And now we can't get that money back because our wonderfully "intelligent" congress & Bush co. were not smart enough to tie any accountability to the bailout money? Brilliant! (brilliant for the millionaires). Meanwhile, our bridges are still falling down, the roads need repaved, the water & sewer plants still need upgrades, millions of Americans cannot get the much needed jobs.......all because the greedy filthy rich people in this country just got richer! These bailouts & stimulus packages are suppose to help ALL of America, not just make the fatcat greedy millionaires into fatcat greedy billionaires. If that's truly what the intention was all along, we should change the name of the stimulus bill to the "Fatcat greedy millionaire relief fund. Must already be a fatcat greedy millionaire to apply." If you are not already a fatcat greedy millionaire, please apply at McDonalds.

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