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Old 02-04-2009, 04:46 PM
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Default Salary Caps for Execs receiving Gov't Bailout

Capped at only $500,000 for a failing company? How about $1 for each year a bailout is paid?

http://www.msnbc.msn.com/id/29003620
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Old 02-04-2009, 04:49 PM
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not much of a cap considering they should be jobless

to recieve a bailout the management that failed in the first place should be replaced
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Old 02-04-2009, 08:27 PM
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People are talking about this like it's a nationwide salary cap. It's only for companies seeking taxpayer-funded bailouts. Basically, if they are so incompetent in their business dealings that they require a bailout, then it's a good bet that nobody there should be making more than $500,000 a year anyway.

If a company doesn't want to submit to the salary cap, then just don't ask for a bailout, it's that easy.

I actually agree with Obama on this.
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Old 02-06-2009, 01:37 AM
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My only problem is the precedent it sets. Right now it only affects executives of companies receiving TARP funds. But it sets the stage to take it further. Say a company receives federal funds or grants. Using this precedent the government can start setting similar conditions for other types of business assistance.

I may be a little old school, but I really don't like more government involvement in business, regardless of how harmless they make it seem at the time.
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Old 02-06-2009, 01:59 AM
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I like the idea because it would be a serious deterrent to these companies seeking government bailouts.

I actually agree, however, that governments should not be involved in the free market whatsoever. I think government bailouts should be made illegal. Sometimes failure is the best source of inspiration and ingenuity, so our big corporations need to be allowed the freedom to fail. If the government takes away a business' freedom to fail, then it also takes away its freedom to succeed.
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Old 02-06-2009, 04:48 AM
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Quote:
Originally Posted by medic92
My only problem is the precedent it sets. Right now it only affects executives of companies receiving TARP funds. But it sets the stage to take it further. Say a company receives federal funds or grants. Using this precedent the government can start setting similar conditions for other types of business assistance.

I may be a little old school, but I really don't like more government involvement in business, regardless of how harmless they make it seem at the time.
I don't either. The free market takes care of itself. IMO, they shouldn't have done any bailouts whatsoever and allow bad companies to go bankrupt. They're having financial problems for a reason, yet, they want us, the taxpayers, to invest in their VERY bad business practices? No way Jose!
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