Bailout Allows Golden Parachutes HUH????

cameronrowe
cameronrowe
Founding Member

Posted: Sep 28, 08 5:17pm

In section 111, the executives aren't barred from ridiculous compensation TILL the government buys their bad debts. So much for Congress not allowing CEOs to get out while the getting is still somewhat good. Congress is just as crooked.

See the language at http://graphics8.nytimes.com/packages/pdf/business/20080928bailout_text.pdf

It is a PDF from the NY Times via Congress.

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23 Comments // 10 Members
Fromz
Fromz
Founding Member

Posted: Sep 28, 08 5:27pm

That says a draft bill and the news suggests it is just now headed to the House for discussion.

Don't get too excited yet.

BTW, isn't that the Dodd, Rangel, and someone else bill?

TiffanyS
TiffanyS

Posted: Sep 28, 08 5:28pm

In section 111, the executives aren't barred from ridiculous compensation TILL the government buys their bad debts.

How could they be? Congress has no power to nullify existing private contracts.

Fromz
Fromz
Founding Member

Posted: Sep 28, 08 5:39pm

Psst, Tiffany,

Don't bring facts and law in . It will confuse the people who want government to take control of business.

TiffanyS
TiffanyS

Posted: Sep 28, 08 5:43pm

Psst, Tiffany,

Don't bring facts and law in . It will confuse the people who want government to take control of business.

Oops, sorry. I'm new here. :)

Fromz
Fromz
Founding Member

Posted: Sep 28, 08 5:56pm

Then Welcome Aboard :-)

pickleallen
pickleallen
Founding Member

Posted: Sep 28, 08 5:59pm

cameeronrowe do you know who you have to thank for making such things available to the public via the internet?

CWO3ROBBIE
CWO3ROBBIE
Founding Member

Posted: Sep 28, 08 6:17pm

Oops, sorry. I'm new here. :)

Tiffany, Welcome to the foxhole. We always like new blood. Then when you get tired of typing your fingers to the bone and nothing changing you can come on over to the fun threads.