02/04/2009 03:05:05 PM EST
What world does Wall St live in?
posted by MedfordTim
The disconnect from reality practiced by the Investor class is absolutely amazing to behold. The same people who were at the forefront of making sure that the poorest of the poor had restrictions and obligations put upon them in order to receive an existence level helping hand from the government are now saying it's unfair for the government to put restrictions and obligations on the Corporate Welfare
they receive.
This article,
Dismay on Wall Street over Obama pay cap, put me in a slash and burn response mode. Eyemuff the kids....
The background: President Obama announced that senior executives of companies accepting financial aid from the government will be limited to a salary of $500,000 per year. Strapped in? Okay, let's go...
The salary limit is "still a hefty sum to be sure, and the spirit of the order certainly has popular appeal, but it's a slippery slope when the government puts restrictions on how much an individual can earn in the private sector," said Patrick O'Hare of the independent research firm Briefing.com
News flash, bucko - if a business is being bailed out by taxpayers, it is NO LONGER IN the "private" sector. Obama has not said the restrictions are industry-wide, they apply only to aid recipients.
"Also, the order itself strikes us as a disincentive for financial firms to reach out for aid, which will just prolong the recovery for the sector and the economy."
Really? Look, fuckwit, either they really need the money and are willing to put up with the red tape that comes along with it or they are trying to line their own pockets at the taxpayers expense. Would a financial firm rather go tits-up rather than accept a lower paycheck restriction? Why are they unwilling to accept what WORKERS have had to concede to for a couple of DECADES? Pilots, auto workers, medical personnel, teachers - all have taken cuts in pay in order to keep their jobs and - supposedly - their employers in business. These whiny little bitches are complaining about ONLY getting a HALF MILLION DOLLARS. Fuck them!
Douglas McIntyre at the financial website 24/7 Wall Street said the limits could make it more difficult for troubled banks to retain their best executives.
"Wall Street may keep most of its bankers if they face pay cuts, but it is the top five or 10 percent who make these companies really profitable, and they will soon be on their way to greener pastures if this measure is enacted," McIntyre said.
Another non-logical thinking dickhead...must I point out the obvious to these geniuses of Finance? They Came To The Government For A BAILOUT - which they would not have had to do if these companies were "really profitable." These people FAILED at their jobs - if they were waiters at Appleby's, they'd be bounced out on their asses for breaking all the dishes and pissing in the sink!
Why would someone out there in those "greener pastures" - I assume that means "firms which did not need bailing out" - hire someone who failed so miserably that they had to go to the hated Government to cover their assets?
Don Lindner, a compensation specialist with the human resources association WorldatWork, said the new restrictions could mean a "huge cut in pay" for many top executives.
He says that like it's a BAD thing...Payroll employment fell by 524,000 PEOPLE over the month of December - they took a "huge cut in pay" too. Prick. Cry me a fuckin' river.
"They might leave to find jobs where they are paid more, that's my concern, that the restrictions are so deep that the leadership won't stay," said Linder
GOOD! That's the same "leadership" that took these firms over the fucking cliff! Why Should They Be Rewarded For Incompetence? Conservatives don't allow this at the MINIMUM wage level, why do they embrace it at the MAXIMUM end?
This is the "Greed Is Good" mentality in action. They still think they DESERVE millions in salary after helping to wipe out 25% of the nation's wealth!
Oh, sorry - I have to cut this short. It's time for me to fill out my re-application for Food Stamps, declaring all income, even loans from family members, so I can get my $10 worth this month.
The Audacity of Dopes...Hey, Wall St tycoons! I got yer "Greener Pastures" hangin' right here...