1. Post #1
    Gold Member
    Medevila's Avatar
    December 2008
    4,220 Posts
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    [TD][h2]Government freezes CEO's pay[/h2][/TD]
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    [TD]NEW YORK (CNNMoney) -- The Treasury Department announced Friday that it has frozen the pay of top executives at the three firms still on the hook for "exceptional assistance" from TARP.[/TD]
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    The firms -- AIG (AIG, Fortune 500), Ally Financial and GM (GM,Fortune 500) -- all received bailout money from the government during the financial crisis, but have yet to fully repay the funds.

    It is the second straight year the government's special master for TARP compensation, Patricia Geoghegan, has taken action.

    The special inspector was given oversight of top salaries at bailed-out firms as public outrage grew over how taxpayer dollars were being used during the financial crisis.

    For 2012, each CEO's pay will be frozen at last year's levels, and cash compensation is limited. The bulk of CEO earnings will be tied to performance, in the form of stock.

    The pay freeze will be particularly hard to take for management at GM, which earlier this year reported very strong profits.

    GM reported a record annual profit attributed to common shareholders of $7.6 billion in February. Meanwhile, the company's stock has risen 22% since the start of 2012.[/TD]
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    [TD][h2]GM: Back in black[/h2][/TD]
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    [TD]The direct pay of lower-level executives at each firm -- the five senior executives, plus the next 20 highest earners -- will actually be cut 10% on average from 2011 levels.

    Still, the executives will earn quite a bit of dough. The top employee at GM -- who is not named, but presumably is CEO Daniel Akerson -- will bring home $9 million.

    The lowest paid executive on GM's list will earn $1.3 million.

    Treasury says the firms are inching closer to paying off their loans. AIG has reduced its obligations by 75%, while half of the TARP funds given to GM have been repaid. Ally Financial, formerly known as GMAC, has only repaid one-third. [/TD]
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    SOURCE:http://money.cnn.com/2012/04/06/news...easury-gm-pay/ [/TD]
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  2. Post #2
    Gold Member
    ewitwins's Avatar
    December 2009
    14,136 Posts
    Fucking brilliant, I'm glad they did this, I want my money back!
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  3. Post #3
    Good

    a politic should be a politic to run a country

  4. Post #4
    The Union Jack would look a shit ton better with a Hammer and Sickle in the middle of it
    Bobie's Avatar
    November 2007
    7,231 Posts
    take the money back to the people.
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  5. Post #5
    Gold Member
    Cheshire_cat's Avatar
    September 2006
    3,813 Posts
    But those poor people! How are they supposed to afford a second yacht now?
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  6. Post #6
    Gold Member
    DesolateGrun's Avatar
    July 2008
    6,258 Posts
    But those poor people! How are they supposed to afford a second yacht now?
    I'm afriad they must sell one of their G2's!
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  7. Post #7
    ExplodingGuy's Avatar
    December 2009
    7,493 Posts
    Mmm, we're gonna need the rubber gloves soon lads.

  8. Post #8
    Gold Member
    Snake7's Avatar
    May 2011
    1,765 Posts
    The lowest paid executive on GM's list will earn $1.3 million.
    That poor baby.
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  9. Post #9
    Gold Member
    Ray-The-Sun's Avatar
    December 2007
    11,816 Posts
    ؟How dare they reduce the amount of jobs job creators can create!
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  10. Post #10
    Gold Member
    Mr. Someguy's Avatar
    March 2006
    24,057 Posts
    How long until the republitards start screaming ''socialism''?
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  11. Post #11
    Gold Member
    SteelReal's Avatar
    May 2009
    1,433 Posts
    How is the government able to own buisnesses?
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  12. Post #12
    Gold Member
    Baldr 2.0's Avatar
    April 2011
    4,017 Posts
    Freeze? What about a reduction.
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  13. Post #13
    VengfulSoldier's Avatar
    March 2011
    1,744 Posts
    How is the government able to own buisnesses?
    Because the government pulled the companies out of the fire and out of collapse.
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  14. Post #14
    Meet the Pyro
    InsanePyro's Avatar
    April 2006
    4,472 Posts
    I actually thought GM did repay

  15. Post #15
    Tuba Player Extraordinaire
    Funcoot's Avatar
    January 2006
    3,592 Posts
    Awesome. Finally taking steps forward at getting the peoples money back. CEO's can hand out bonuses all day, I really don't care. But if you owe the citizens of the United States billions of dollars, pay that shit back before you start handing out bonuses.

  16. Post #16
    DERAILER OF THREADS DESTROYER OF IDIOTS
    Emperor Scorpious II's Avatar
    February 2009
    24,917 Posts
    Out of a millionaire's pocket into the defense budget, here we go!
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  17. Post #17
    Gold Member
    Medevila's Avatar
    December 2008
    4,220 Posts
    I actually thought GM did repay
    Dodge/Chrysler/Ram did.

  18. Post #18
    How long until the republitards start screaming ''socialism''?
    And nobody will care because socialism is preferable to a world of backbiting capitalist fuckwads like this guy who do nothing but screw the lower classes to the wall purely to make another million to add to his already-massive pile of benjamins.
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  19. Post #19
    Tuba Player Extraordinaire
    Funcoot's Avatar
    January 2006
    3,592 Posts
    And nobody will care because socialism is preferable to a world of backbiting capitalist fuckwads like this guy who do nothing but screw the lower classes to the wall purely to make another million to add to his already-massive pile of benjamins.
    These guys aren't capitalists, they're crooks. Capitalism can work fine, so long as the right restrictions are in place. Unions were one of the best things to have happened to America, too bad they're not as prevalent or effective as they used to be.
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  20. Post #20
    What fun is there in making sense?
    Dennab
    October 2007
    9,274 Posts
    I actually thought GM did repay
    GM was given a loan and a slush fund account. They paid back the loan out of the slush fund.
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  21. Post #21
    Gold Member
    Ray-The-Sun's Avatar
    December 2007
    11,816 Posts
    These guys aren't capitalists, they're crooks.
    And the thing about capitalism is that it rewards crooks.
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  22. Post #22
    Gold Member
    ewitwins's Avatar
    December 2009
    14,136 Posts
    GM was given a loan and a slush fund account. They paid back the loan out of the slush fund.
    Bahah that's like paying a loan with another loan.
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  23. Post #23
    Tuba Player Extraordinaire
    Funcoot's Avatar
    January 2006
    3,592 Posts
    And the thing about capitalism is that it rewards crooks.
    Why did you cut out the part of my quote that rebuttals exactly what you're saying. The system we have in place rewards crooks. With the right restrictions in place, capitalism works fine. Real capitalism rewards hard work (on all levels) and is a catalyst for innovation. The system we have going on now is corrupt.
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  24. Post #24
    The Union Jack would look a shit ton better with a Hammer and Sickle in the middle of it
    Bobie's Avatar
    November 2007
    7,231 Posts
    Why did you cut out the part of my quote that rebuttals exactly what you're saying. The system we have in place rewards crooks. With the right restrictions in place, capitalism works fine. Real capitalism rewards hard work (on all levels) and is a catalyst for innovation. The system we have going on now is corrupt.
    personally, i think the best way of progressing society isnt to refer to what you have as 'socialism' 'capitalism' or anything, but instead to just attempt to remove the bad parts while keeping the good. there's no need to un-necessarily keep within boundaries that need not exist

    fear and competitivity should not be the 'catalyst for innovation', and its already been proven that monetary gain is no real reward.
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  25. Post #25
    Gold Member
    Mr. Someguy's Avatar
    March 2006
    24,057 Posts
    personally, i think the best way of progressing society isnt to refer to what you have as 'socialism' 'capitalism' or anything, but instead to just attempt to remove the bad parts while keeping the good. there's no need to un-necessarily keep within boundaries that need not exist

    fear and competitivity should not be the 'catalyst for innovation', and its already been proven that monetary gain is no real reward.
    "bad" and "good" are extremely opinionated, good luck with that. Nomatter what do you, a significant amount of people will disagree.

  26. Post #26
    The Union Jack would look a shit ton better with a Hammer and Sickle in the middle of it
    Bobie's Avatar
    November 2007
    7,231 Posts
    "bad" and "good" are extremely opinionated, good luck with that. Nomatter what do you, a significant amount of people will disagree.
    by good i mean in regards to the health and safety of the people, e.g third world slave labour is not good

  27. Post #27
    Gold Member
    FlakAttack's Avatar
    November 2006
    5,651 Posts
    Why did you cut out the part of my quote that rebuttals exactly what you're saying. The system we have in place rewards crooks. With the right restrictions in place, capitalism works fine. Real capitalism rewards hard work (on all levels) and is a catalyst for innovation. The system we have going on now is corrupt.
    Everything you said sounds just like the arguments for communism everyone makes. It's not a very good argument...
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  28. Post #28
    GlebGuy's Avatar
    August 2010
    2,395 Posts
    Freeze? What about a reduction.
    Eradication seems much more satisfying.
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  29. Post #29
    Gold Member
    sHiBaN's Avatar
    April 2006
    4,083 Posts
    Why the fuck did we have to bailout these fuckers?

    OUR tax money for OUR COUNTRY went straight into these bastards' private coffers

  30. Post #30
    How long until the republitards start screaming ''socialism''?
    take the money back to the people.
    Fucking brilliant, I'm glad they did this, I want my money back!
    It's not the Republicans crying socialism.
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  31. Post #31
    VengfulSoldier's Avatar
    March 2011
    1,744 Posts
    Out of a millionaire's pocket into the defense budget, here we go!
    And into those laser cannons and maybe even those poor Vets who need help!

    OH YEAH!

    Yeah, bashing just one part of the Defense budget is stupid.