TARP Watchdog: Execs Can't "Party on Like It's 2007" - Econwatch - CBS News »
Posted By Striker101 2 months, 2 weeks ago in NewsElizabeth Warren, Chairwoman of Congressional Oversight Panel for Bailout Money, Says Corporate Culture on Pay Must Change.
"When the congressional oversight panel did its regulatory reform report back in January, we made the point that executive compensation right now has got the wrong set of incentives in it so that if a company can pump up profits in one quarter short term … then you get too much money even if that means you could actually be doing a lot of damage to the company long-term and a lot of damage to the economy," she said.
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Striker101
Lifetime self-employed designer/builder/solar, realtor, retired and busier than ever writing about the moral foundation for Life and Liberty. Ongoing collapse is the critical ...
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Striker1012 months, 2 weeks ago
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Apparently Gov has decided to blackmail some of those who took TARP monies, deciding that CEO's made bad decisions and get big money.
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That is NOT up to government to determine, and it's not even competent to do so. But several of the companies have been taken over by Gov, which is always wrong, but the owner does control.-
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Dionys2 months, 2 weeks ago
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If they take government money, they should be subjected to oversight. Why should a company get millions of taxpayer dollars only to give its execs millions of dollars for their failed policies that got us into this trouble in the first place.
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Striker1012 months, 1 week ago
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awong, you are totally unplugged.
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write regulations and encourage disruption and corruption.
so propose more regulations?
Then go ahead and lend digital debt, put the taxpayers on the hook, and call such government helpful.
It was Bush, now it's Obama speeding down the path toward utter collapse.
Let us know when you plug into an outlet with the breaker working and no short-circuit.
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simonsez2 months, 2 weeks ago
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I would think these companies were contractually obligated to honor their bonus commitments and may end up with expensive, pro-longed court battles.
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It's not the bonuses I question ... how can a company in dire straights 11 months ago have HUGE profits 11 months later; large enough profits to require large bonus payouts. What the hell do these companies do that is so valuable and profitable?
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