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Not A Good Week

So, Obama is up in arms about CEO executive pay for companies which have taken government bailout money.

He and his Treasury Secretary Timothy Geithner (who, ironically,it was under Geithner's watch as NY Fed Chairman that his lax oversight led to the horrifically substandard lending practices at Citi, which, in turn, led to the company's collapse, resulting in a $306 billion gubmint bailout) have called for a $500,000 salary cap on any CEO in charge of a company that has received government bailout money.

A very noble sentiment, indeed, but, in the big picture, one which is peanuts compared to the atrocious spending bill he is trying to ram down our throats.

This, however, plays well in the MSM and with the American people, giving Obama some cover for his disastrous cabinet picks, all of whom are millionaires in their own right.

It is appalling that this is how he is spending his time and communication with the American people, of which he obviously believes are attention depraved dupes, in this time of crisis.

The Dashcle drop-out and the subject of CEO salaries and perks are probably the best things that could have happened to the Obama camp right now, taking the focus away from his association with the spending bill, which, according to recent polls, the American people are becoming less satisfied with every day. Timely diversions that he and his bumbling press secretary Bob Gibbs can use to cloud over the important things, and let it seem as if it's all Congress' doing..

This bill is becoming an albatross around his neck, however. It's been exposed as a porked-up credit scheme, and has served to do nothing but blow the blooms off Obama's rose.

This has not been a good week for Obama. He has seemed to be out-of-touch, showing that he's the same kind of Washington insider that he promised he wouldn't be. He acts as if his cult of personality is enough to overcome any scrutiny, prancing around the MSM circuit, speaking to his loyal subjects as if he's still on the campaign trail.

Between his almost comical cabinet picks, his back-pedaling of hiring lobbyists in his administration, and the mother of all spending billis, his false profit exterior is showing.

Next, Timothy Geithner should step down. If Dashcle was excoriated for his blatant tax evasion, than he is most certainly guilty of worse falsehoods. Republicans would do well to start floating that idea.

Hope and Change. I'm feeling it more everyday.



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Comments (23)

...a $500,000 salary cap... (Below threshold)

...a $500,000 salary cap on any CEO in charge of a company that has received government bailout money.


Ohhhhh, he's acting so Presidential! I feel all orgasmic!

Please, the loopholes in this provision are likely so large you could drive a convoy of trucks through them.

Salary caps only work in the NFL, Mr. President. What's next placing the "franchise player" tag on CEOs....

Here comes the Soviet-style governing we all warned you about...

I can't believe Barry is re... (Below threshold)
WildWillie:

I can't believe Barry is reading childrens books to kids while people in Kentucky are freezing to death and the economy is crashing. He is out of touch. ww

Good news, Willie. (eds. - ... (Below threshold)
Parthenon:

Good news, Willie. (eds. - apologies for the lengthy quote, I didn't feel a piece would do the matter justice. I won't be offended if it exceeds Wizbang's paste standards and you vaporize it)

---

"EDDYVILLE, Ky. (AP) -- In the first real test of the Obama administration's ability to respond to a disaster, Kentucky officials are giving the federal government good marks for its response to a deadly ice storm.

...

Beshear asked Obama for a disaster declaration to free up federal assistance Thursday, two days after the storm hit, and Obama issued it hours later. Trucks loaded with supplies began arriving at a staging area at Fort Campbell, Ky., on Friday morning, said Mary Hudak, a spokeswoman for the Federal Emergency Management Agency.

...

Beshear has consistently praised Obama, a fellow Democrat, for the attention he's devoted to what Beshear calls the biggest natural disaster to hit his state.

"We have had tremendous and quick response from President Obama and his administration," Beshear said Monday. "I don't think any of our folks that have dealt with disasters before ever recall as quick a response as we got last Wednesday."

Trina Sheets, executive director of the National Emergency Management Association, based in Lexington, Ky., said that from what she's heard, FEMA's response has been very good so far. Her group represents emergency management directors from all 50 states.

"The governor's declaration request for an emergency was turned around very, very quickly by FEMA and the White House," said Sheets, who just had her power restored Monday after four days without it. "And President Obama has spoken with the governor of Kentucky on several occasions throughout the event."

Sheets said she hadn't heard any complaints so far about the federal response.

"FEMA and the Kentucky National Guard are doing everything they can to get things back up and running," Sen. Jim Bunning said.

By Monday, FEMA officials were checking in on supply distribution points in some rural areas. FEMA official Don Daniel stopped by to ask emergency management officials in Grayson County, who had criticized FEMA's absence late last week, what they needed.

More generators, they told him, to keep essential services such as hospitals and water supplies running.

"If they need more, they'll get them," Daniel said. "That need has to be met."

Federal authorities hadn't made it everywhere yet, however."

The salary caps are a very ... (Below threshold)

The salary caps are a very bad idea. If these companies are going to survive they need to attract talent. That talent isn't going to come cheap. $500,000 isn't going to be enough, not even close.

"He has seemed to be out-of-touch"

No kidding! It's hard to stay in touch when you're hiding out in 2nd-grade classrooms. What a wimp.
http://www.rightklik.net/

MARVELOUS job with your ell... (Below threshold)

MARVELOUS job with your ellipses, troll old chap...simply MARVELOUS! Do you work for a newspaper?

Let's put some text back into that story that you cut out, shall we?
--
"Yet more than 300,000 residents remained without power Monday and some areas had yet to see aid workers nearly a week after the storm, a fact not lost on some local authorities."

""We haven't seen FEMA. They haven't been here," said Jaime Green, a spokeswoman for the emergency operations center in Lyon County, about 95 miles northwest of Nashville, Tenn."

"Brocton Oglesby, director of emergency management in Hopkins County, said he has seen virtually no contribution from FEMA in the county, where more than half of the 27,000 homes remained without electricity.
==

Bravo! Way to hope no one was paying attention to your pathetic snippery. Back under your bridge.

It's hard to stay in tou... (Below threshold)

It's hard to stay in touch when you're hiding out in 2nd-grade classrooms.

Not to mention being interviewed for the Superbowl pregame show with Matt Lauer and making fun of Jessica Simpson's weight, having a good laugh about it.

Is it just me or was Bush villified for going to a fund raiser or something BEFORE the New Orleans levees even overtopped, while Democratic officials are praising Great Leader for his attention to the matter AFTER the storm when we KNOW that people are dying...and he's giving Superbowl interviews and joking about the weight of celebrities like the host of a Comedy Central show?

Scary that anyone thinks ... (Below threshold)
irongrampa:

Scary that anyone thinks the government should dictate ANY salary or bonus pertinent to the PRIVATE sector. The BOD's and the STOCKHOLDERS are the ONLY ones to determine such matters. Any changes MUST come from them.

Watch this escalate.

I'm still waiting to see al... (Below threshold)
GarandFan:

I'm still waiting to see all that "executive experience" He said he had. Just think, this is only his first two weeks.

Please explain, Mr Mallow, ... (Below threshold)
Bruce Henry:

Please explain, Mr Mallow, how Geithner "ran Citigroup into the ground." When was Geithner the CEO of Citigroup?

Capping executive pay at $5... (Below threshold)

Capping executive pay at $500,000 a year for financial firms receiving "exceptional assistance" is a little late in coming and does nothing for us now. That horse is already out of the barn. Even if it does come back, I'm sure there are enough legal loopholes and "exceptions" lurking in that guideline to make it of little consequence. Obama did nothing, again.

Obama needs to get his nose out of the air and to the grindstone where it belongs. He ran around the country, hat in hand, begging for the job of President -- it's time he produces something of value in exchange for his salary.

"Scary that anyone think... (Below threshold)
P. Bunyan:

"Scary that anyone thinks the government should dictate ANY salary or bonus pertinent to the PRIVATE sector"

Sorry grampa, but the Marxists, err I mean Democrats, have been doing this for decades. Perhaps you've heard of a thing called the minimum wage? Its only natural that Marxists like Obama want to escalate government control over our liberties. Pretty soon there'll be minimum wages and maximum wages for everything except lawyers and extortionists (err I mean union members).

"He ran around the count... (Below threshold)
JLawson:

"He ran around the country, hat in hand, begging for the job of President -- it's time he produces something of value in exchange for his salary."

I wouldn't hold my breath. He's finding out that high-sounding rhetoric and a smooth speech just doesn't get the job done when you've actually got to make decisions...

I'm ashamed of you, Parthen... (Below threshold)
Clay:

I'm ashamed of you, Parthenon.

So, Bunyan, you're against ... (Below threshold)
Bruce Henry:

So, Bunyan, you're against ANY minimum wage AT ALL?
How do you feel about child labor?
Social Security?
Compulsory public education?

Clearly this is one of Obam... (Below threshold)
pgg:

Clearly this is one of Obama's pet infrastructure projects.

You need a lot of good intentions if you're repaving the road to Hell.

pgg, you forgot about the b... (Below threshold)
hermie:

pgg, you forgot about the benefits to the handbasket industry.

"Please explain, Mr Mallow,... (Below threshold)
Shawn:

"Please explain, Mr Mallow, how Geithner "ran Citigroup into the ground." When was Geithner the CEO of Citigroup?"

Hate to say it, but, you got me, Bruce. I was thinking of Robert Rubin. However, it was under Geithner's watch as NY Fed Chairman that his lax oversight led to the horrifically substandard lending practices at Citi, which, in turn, led to the company's collapse.

I'm out with a back problem am and not in the straightest of minds right now, so thank you for the correction.

Time for another Soma.

-Shawn

While I believe less is mor... (Below threshold)

While I believe less is more when it comes to government intervention, on this issue I wholeheartedly agree that income and perks should be limited for those who participate in the bailout until the money has been repaid. A good start but It's time to do more. How about the stocks and other options that could easily add up to millions of dollars?

So, Obama is up in arms ... (Below threshold)
Les Nessman:

So, Obama is up in arms about CEO executive pay for companies which have taken government bailout money.

He and his Treasury Secretary Timothy Geithner (who, ironically, ran CitiGroup into the ground, resulting in a $306 billion gubmint bailout) have called for a $500,000 salary cap on any CEO in charge of a company that has received government bailout money.

Fine. How about limiting former congressmen, senators and Presidents to $500,000 a year during and after they leave office. After all, if they receive gov't money, they should not whore, uh I mean sell, their influence to other companies looking to cash in on having a Senator on the payroll.

Parthenon said this:<... (Below threshold)
WildWillie:

Parthenon said this:

Beshear has consistently praised Obama, a fellow Democrat, for the attention he's devoted to what Beshear calls the biggest natural disaster to hit his state

A fellow democrat praising another. Wow.

But my point is; Did BArry show his concern for the poor people of Kentucky that were freezing to death by having a Superbowl Party while his offices are kept at a warm 85 degrees? Only in your world parthy. ww

Well President "HopeNchange... (Below threshold)
ODA315:

Well President "HopeNchange", quit giving these execs money! Our money! And they'll quit spending it on excessive bonuses, junkets, etc.

Didn't Uncle Saul or your Ivy League profs explain to you that people spend foolishly and wastefully that which they don't earn? I didn't think so.

Ted, I think I speak for ev... (Below threshold)
Bruce Henry:

Ted, I think I speak for everyone when I say STFU.

Actually, I agree that he s... (Below threshold)

Actually, I agree that he should provide a birth certificate, we're just supposed to accept what he says because a court refuses to grant standing to American citizens in court to press the issue. On most days I'm not particularly nuts and dissect conspiracies with glee, but it is utter BS to claim that he has provided a birth certificate to put the matter to rest. Personally I think he's embarrassed by the name on it or something like that, but that's not a reason for courts to refuse to guarantee the Constitution is being observed. I mean, even if just a judge reviewed it and said it was OK, that would be fine with most of us - they do it all the time with national security matters.




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