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Millions for failure

Discussion in 'U.S. Politics' started by PLC1, Sep 10, 2008.

  1. PLC1

    PLC1 Moderator Staff Member

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    Isn't that great? Run your company into the ground, get the taxpayers to bail you out, and earn... no get paid a few million.


    What possible justification could there be for such a "severance package"?


    Read the rest here.

    http://www.businesssheet.com/2008/9...deals-for-ceos-who-blew-up-fannie-and-freddie
     
  2. BigRob

    BigRob Well-Known Member

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    Well in fairness, all CEO's have things like this built into their contracts. If the government did not bail them out, they would not have gotten this money, so blame the Treasury Department.
     
  3. Libsmasher

    Libsmasher New Member

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  4. PLC1

    PLC1 Moderator Staff Member

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    So, the failure was due to the government distorting the market, and therefore the poor witto CEOs deserved to have a fortune handed to them for nothing.:rolleyes:

    No, the government shouldn't be allowed to distort markets, but that's no justification for such a payment.
     
  5. Federal Farmer

    Federal Farmer New Member

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    Personally, I'd have liked it a lot more if they'd have simply let them go down the drain! No bail outs, no severence packages, no nothing, just let 'em sink below the waves like the Titanic!

    Oh, and I know that someone is going to bring up about "what about the economy???" SCREW THAT! The Libtards have been screaming about how bad the economy is for the past 2 years, and THAT'S the reason that the housing market is in a slump, because people started believing that "the sky is falling, the sky is falling" bovine excrement that was being spewed by the LIBTARD TRAITORS! Well fine, they wanted to see a "bad economy", I'd have shown 'em one, IN SPADES, and on the Dim-O-Crap controlled Congress's watch!

    I'm old enough to remember the last REAL recession we went through with Mr. Peanut in the White House, and not only did we survive it, we got 12 solid years of GOP control of the White House, and 11 years of TOTAL control of Congress in the bargain too, so I say LET'S DO IT AGAIN! It appears that the OBLIVIOTS on the left are entirely too stupid to study their history, so I say GREAT!!! Let's repeat it, so that maybe the next time, they won't be so quick to LIE OUT THEIR BUTTS about the economy when there's NOTHING WRONG WITH IT, just so they can have their little "self fulfilling prophesies", and win an election!
     
  6. Andy

    Andy Well-Known Member

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    Well, CEOs at such corporations will not work without a severance package.

    Second, doing the job of a CEO is not doing nothing. Even if he screwed up, he still worked. Part of being CEO is that when anything goes wrong, you take all the heat. Case and point, this thread. So taking the crap goes with being CEO. You simple are not going to do that job unless there is enough benefits to make it worth your while.

    Third... justifiable is not for us to decided. It's the board of directors who determine how must the position is worth, and what benefits are given. Just like if you own a business and decide your going to pay someone $20/hour, it doesn't matter if someone else thinks that isn't justified. It's not for them to choose, only you.

    And the final point, which is what some of the others here have been trying to make, the only singular problem with this whole situation is that the government gave the company, money stolen from the public. That is the reason this is an issue. If GM pays a CEO a million dollars, and he drags the company to a pit, I don't give a rat's butt, because that was their money to blow on someone who didn't help.

    But in this case, for our government, that is 10 trillion in debt, to take money from my check, and give it to a company that had a special protected status it never should have had, and ultimately caused the problem it's in... yeah that's a big deal.

    Our government, gave a company a special protected status, allowed it to ignore governing rules that other companies in it's field had to follow, and because of this the company was fast and loose with it's practices, that led it to financial ruin.... then the government bailed out the company that it (due it it's status) caused to fail, with money stolen from tax payers. Yeah, I'm a bit ticked off about it. Blame government. It caused this.
     
  7. Libsmasher

    Libsmasher New Member

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    The "zero level" explanation, just for you (and I hope you get it, there's no simpler way to put it :rolleyes:):

    Freddie Mac and Fannie Mae were creations of the >>GOVERNMENT<<< - the >>GOVERNMENT<<< therefore bears complete responsibility for the fiasco, from start to finish.

    Blink twice if you get it yet. :D
     
  8. PLC1

    PLC1 Moderator Staff Member

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    Blink, blink. Did you actually read my post before responding? You quoted it, so one must assume you were attempting to respond to it.
     
  9. PLC1

    PLC1 Moderator Staff Member

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  10. Libsmasher

    Libsmasher New Member

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    You STILLLLLLLLLLLLLLLLLLLLL don't get it? :D :rolleyes:

    The golden parachutes are the responsibility of goverenment as well.

    NOW DO YOU GET IT???????????????????????????? :eek:
     
  11. PLC1

    PLC1 Moderator Staff Member

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    I get it. You think the government has the responsibility of giving away millions to people who fail. Well, I suppose the government is really good at giving away millions, so that shouldn't be a problem for them. For the taxpayer, on the other hand, some of us object to our money being given away. I see you like the idea, but I really don't.
     
  12. Libsmasher

    Libsmasher New Member

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    Whaaaaaaaaaaat????? :confused:

    OK, I give up. :rolleyes:
     
  13. PLC1

    PLC1 Moderator Staff Member

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    I see you still don't get it, so let me put it this way:

    Liberals, especially the ones who like to think you're not, like to give away government money.

    Are you really a liberal in libsmasher costume, then?
     
  14. GenSeneca

    GenSeneca Well-Known Member

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    Democrats in Action:

    I have said for nearly two years, as a result of watching this unfold in CONGRESS on C-Span, that these quasi-governmental lenders would go under due to the actions of Democrats... I also pointed out nearly two years ago this collapse would lead to a total government takeover... But I have only been on this forum for 4 months and only pointed this out 3 months ago, at which time, like all the others, I was written off as a right-wing loon.

    With such a large cost for the bailout to the American taxpayer, I take no pride in saying:
    "See, I told you so!"

    And one more thing... Nobody will call for Barney Frank to be removed for his incompetency, he's a Democrat, he will more likely be praised for his diligent work and service to his country.
     
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