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Socialist CEOs or Capitalist CEOs: Which is worse?

Discussion in 'U.S. Politics' started by Andy, Sep 30, 2008.

  1. Andy

    Andy Well-Known Member

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    Many are quick to complain about private sector CEOs who in the course of doing their job, earn lost of cash, and big salaries plus large bonuses.

    But let's quickly look at a an example of a Socialist CEO. What is a socialist CEO? Well companies have to have people in charge of them, regardless of who owns, or controls by proxy the company.

    Over at Fannie Mae, a company created and sponsored by our federal government, there has been Frank Raines, Jamie Gorelick, and Jim Johnson.

    Jim A Johnson worked for the US Senate, then worked for Walter Mandel during the Carter adminstration, worked for Mandel again during his presidential run, worked for John Kerry during his presidential run, and finely worked for Obama during his VP-selection process. However, during the Clinton years, he served as CEO for Fannie Mae from 91-98.

    Jamie Gorelick served the U.S. Secretary of Energy under Carter, was later general of the Department of Defense under Clinton, and appointed Deputy Attorney General of the United States. Finely from 1997 to 2003, Clinton appointed her vice-chairmen of Fannie Mae even though she had no training, nor experience in finances.

    Frank Raines worked for Carter as associate director for economics and government in the Office of Management and Budget and assistant director of the White House Domestic Policy Staff. Then in 1991 he became vice-chairmen of Fannie Mae, which he left to join the Clinton administration as the Director of the U.S. Office of Management and Budget until 1999 where he returned back to Fannie Mae as CEO.

    Point: all three are politicians. All are socialists in charge of a government sponsored company. So I ask you, those who are liberals, is a socialist CEO better than a capitalist CEO? After hearing the shrieking over Enron, and the complaining about oil CEOs taking home large checks, let's see how the Socialist CEOs did, after all, someone's going to run the company in either situation.

    Gorelick chirped to Business Week in 2002 that Fannie Mae "is among the handful of top-quality institutions." In 2003 news came out that Fannie Mae failed to report over $9 Billion in losses. Further, Gorelick recieved $779 Thousand for cooked accounting books that allowed for a executive bonus. Gorelick left in 2003, with all her money.

    James A Johnson was found to have also improperly deferred over $200 Million in company expenses. Johnson, who is implicated in cooking the Fannie Mae books in order to secure the executive bonus, also apparently understated his own salary reported to be $6 to $7 Million for his 7 years of service. Later it was discovered his pay-out was actually about $21 Million, which divided by 7 years is $3 Million a year in salary, not including the $1.9 Million bonus from cooking the books.

    Finely Frank Raines, who currently advises Obama on economic policy, was given $20 Million dollars in compensation for 2003 alone. Moreover, Raines $1.1 Million from the 1998 bonus scandal. Raines, with 3 other top Fannie Mae executives were ordered to pay back money, yet instead they used Fannie Mae's insurance policy to pay back the court ordered repayment.

    And I love the quote below, where Raines claimed in 2004 that the reason Fannie Mae didn't have the required money set aside to pay for the loans it had out, was because these assets [loans] it has are risk less.

    Conclusion:
    So there it is. They made millions on millions, violated accounting standards, misstated income and expenses, manipulated the numbers to get lavish bonuses, even understated their own income, and then after being caught, they used the companies insurance policy to pay off their fines... all on our tax paying expensive, while running the company into the ground causing a tax payer bailout.

    No jail time. Bankrupt company. And now their back in politics as if nothing they did caused a problem.

    Which is worse, CEO of a private corporation? Or a Socialist that is given our taxes on a silver platter?
     
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  2. GenSeneca

    GenSeneca Well-Known Member

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    Great post Andy! :)

    I just want to add a few things... Like the cover these people got through their political connections in Washington, the political contributions they made to their friends in Washington and the fact that Democrats are corrupt as hell and get away with it.... Because Democrat voters never seem to hold them accountable.

    Democrat Barney Frank, Chairman of the House Financial Services Committee:
    "These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis," Frank said. He added, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." --2003

    Lets not forget Fannie and Freddies number one recipient of political donations, Chris Dodd - Chairman of the Senate Banking Committee.
    Here's a string of corruption:

    Democrat Culture of Corruption pretending to represent "Honest Leadership"
    [​IMG]
    ---------------------------------------------------------------
    I'd say the Socialist CEO's are worse... They, and their corrupt allies in Washington, manage to avoid all responsibility for their actions.
     
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  3. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    You don't have socialist CEOs or parties or presidents in the US.

    You either have right wing or extreme right wing versions of the above.

    Your entire banking system is ****ed and it is the irresponsibility of the banks and the refusal of the Bush administration to step in and regulate that is causing this crisis.

    And that is why Bush's ratings are continuing to nose dive and why McCain is viewed with suspicion as he changes his stance on the crisis with each wind direction change.

    You can bellyache as much as you like but what is happening here is the unacceptable face of capitalism.
     
  4. Mr. Carpenter

    Mr. Carpenter New Member

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    And once again when faced with the facts and evidence, the Socialists blather on incoherently and try to play the misdirection game.

    Give it up Dawkins, you Socialists are Dorian Gray, the whole world has seen your picture and it's not a pretty sight.
     
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  5. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    If you think you have socialist governments or CEOs in the USA you are proving yourself to be somehwat ignorant of socialism and US politics.

    But then the US population has been brainwashed about socialism to justify attacking Governments that tend to the left of centre and look after their poor.

    Not that any good christian American would want to do that.

    The way you talk about this subject makes you sound like a redneck.

    Ignorant, bigoted, nasty and stupid.
     
  6. Mr. Carpenter

    Mr. Carpenter New Member

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    I see, so looking at the subject from the standpoint of facts, evidence, and history, as opposed to through the very red lens of Marxist/Leninist/Stalinist mantra makes me "ignorant, bigoted, nasty and stupid"? I see, so when faced with the truth your response is ad hom attacks? Well, I'll take that as admission that you have nothing intelligent to add to the discussion.
     
  7. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    There is a prize for anyone who can decode that
     
  8. Andy

    Andy Well-Known Member

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    It was written in plain understandable English. Here's I'll say it another way...

    We're looking at facts, evidence, history, and current day issues, and drawing conclusions. When presented this, you resort to lame, illogical, unsupportable hyperbole. (not to mention some laughable childish insults)

    As always, you fail to make a point or a supportable statement. Thanks for playing, have a nice day.
     
  9. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    Nope, doesn't make sense

    Again
     
  10. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    You don't have socilaist CEOs or parties or presidents in the US.

    You just call anyone who disagrees with you a socialist.

    It is childish
     
  11. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    In fact, the only kind of socialists you have in US Government and Commerce are national socialists
     
  12. Mr. Carpenter

    Mr. Carpenter New Member

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    Would it help if I drew a picture for you?;) I can even use your big pre-school crayons (if you promise to stop chewing on them:eek:), and I if you ask real nice, I might be persuaded to include a couple of pop-ups too.:D
     
  13. Mr. Carpenter

    Mr. Carpenter New Member

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    I think the word you're looking for is COMMUNIST. Yes, that has already been established, and we've also established that they're the ones that are responsible for this mess.
     
  14. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    No, I know exactly what words I wanted.

    You just don't seem to understand them.

    No real suprise
     
  15. Dawkinsrocks

    Dawkinsrocks Well-Known Member

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    By the way, are you by any chance very skilled on the banjo?
     
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