AIG

[TheMercenary]

Originally Posted by Redux

Absolutlely Geitner is responsible., as is Dodd and other Democrats

So are Bush (and many Congressional Republicans) who refused to include limits on executive bonuses when the TARP legislation was drafted and enacted last year.

As I have said...there is plenty of blame to go around if you look at the bigger picture.

As I recall, Bush et. al. were making decisions in conjunction with the Obama team immediately after the election results were announced. It was a historic period of cooperation between the transition teams. The Obama team had their hands in the Democratic plan from the beginning. It will be very hard to pass this off on Bush.

Originally Posted by TheMercenary

As I recall, Bush et. al. were making decisions in conjunction with the Obama team immediately after the election results were announced. It was a historic period of cooperation between the transition teams. The Obama team had their hands in the Democratic plan from the beginning. It will be very hard to pass this off on Bush.

Your recollection is not quite right. The TARP bill, in which Bush refused to include a provision to limit executive compensation, was signed before the election.

Some Republicans were opposed to limits on executive compensation at the time as well:

"What executives have done is troubling, but it's equally troubling to have government telling shareholders how much they can pay the executives," said Sen. Mel Martinez (R-FL).

Sen. James Inhofe (R-OK) "... is this still America? Do we really tell people how to run [a business], and who to pay and how much to pay?"

There is plenty of blame to go around.

[TheMercenary]

Originally Posted by Redux

Your recollection is not quite right. The TARP bill, in which Bush refused to include a provision to limit executive compensation, was signed before the election.

"What executives have done is troubling, but it's equally troubling to have government telling shareholders how much they can pay the executives," said Sen. Mel Martinez (R-FL).

Sen. James Inhofe (R-OK) "... is this still America? Do we really tell people how to run [a business], and who to pay and how much to pay?"

There is plenty of blame to go around.

Immediately followed by Dodd's little addition.

Originally Posted by TheMercenary

Immediately followed by Dodd's little addition.

Yep....plenty of blame to go around.....IMO, starting with Bush's refusal to include a provision to limit executive compensation...that is now being corrected by this latest draft amendment.

[classicman]

Originally Posted by Redux

"it's equally troubling to have government telling shareholders how much they can pay the executives," said Sen. Mel Martinez (R-FL).

Sen. James Inhofe (R-OK) "... is this still America? Do we really tell people how to run [a business], and who to pay and how much to pay?"

Since you obviously disagree with this... Who determines how much an executive should make and based upon what? This is a free country still, isn't it?

Originally Posted by classicman

Since you obviously disagree with this... Who determines how much an executive should make and based upon what? This is a free country still, isn't it?

When it comes to accepting government (taxpayer) money in order to remain afloat (which was the context of those quotes), IMO, the government has a right to impose limits on compensation.