March 6th : CHAVEZ CALLS ON OBAMA TO FOLLOW PATH OF SOCIALISM
Obama will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of 'sweeping plan to overhaul financial regulation', NY TIMES reporting Sunday, newsroom sources tell DRUDGE... Developing...
Providing there's anyone left to regulate. Or anything left to pay them with.
Update - the Drudge sources were dead on;
The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said.
The outlines of the plan are expected to be unveiled this week in preparation for President Obama’s first foreign summit meeting in early April.
Increasing oversight of executive pay has been under consideration for some time, but the decision was made in recent days as public fury over bonuses has spilled into the regulatory effort.
The officials said that the administration was still debating the details of its plan, including how broadly it should be applied and how far it could range beyond simple reporting requirements. Depending on the outcome of the discussions, the administration could seek to put the changes into effect through regulations rather than through legislation.
One proposal could impose greater requirements on the boards of companies to tie executive compensation more closely to corporate performance and to take other steps to assure that outsize bonuses are not paid before meeting financial goals.
The new rules will cover all financial institutions, including those not now covered by any pay rules because they are not receiving federal bailout money. Officials say the rules could also be applied more broadly to publicly traded companies, which already report about some executive pay practices to the Securities and Exchange Commission.











Totally off-topic, but hilarious: Obama-sushi
http://inventorspot.com/articles/obama_sushi_adds_good_taste_executive_brunch_25186
Lots of starch and fish paste, but as was once said in another context "Where's the beef?".
Any self respecting capatalist will bail and find work elsewhere, leaving only yo-yo's working at these places.
I'm all for it provided that Hollywood and the Big Networks are included
I'm wondering if there is talk somewhere in some back room about impeachment....
What's interesting is that this entire 'mini-crisis' was fabricated from the get go, right out in the open. Congress and the president wrote the bill that allowed the executive bonuses, passed it and signed it, then waited for the outrage. Voila, instant crisis, to which even more regulation is applied. Anyone opposing regulations can be painted as a greedy capitalist, which is almost as bad as being labeled a racist.
Despite their campaign contributions, looks like banks are now under the bus. But to make sure the media stays onside, Obama agrees to do network talk shows to help boost ratings. Carrot and stick.
So, ALL financial institutions or just the ones that, for all intents and purposes, are owned by the government?
If it's ALL financial institutions then it's none of the President's business. Only the banks that are gov't owned should be monitored.
Oh, and Obama will not serve a second term.
Guaranteed.
Once the first four years have ended the voters will show him the door.
He's Jimmy Carter redux.
DaWG
A resident of America's Hat.©
Yawn. Let me know when BO decides NOT to ruin the economy.
Ah, the Law of unintended consequences once again pops it's head out of the blue.
This, of course, is a specialty of the leftards. They always seem to find themselves not exploring the possibilities of their kneejerk reactions.
Having said that, this is a huge opportunity for Canadian institutions to take advantage of the ongoing stupidity of Barry O and his morons (Barry Fwank, Pelosi, Geithner, et al).
But I wonder, will these dimbulbs ever get it, before they throw the entire American economy under the bus?
That's evocative of the early days of the Third Reich...
Steadily, steadily, Obama imposes more and more centralized command and control, dictating that which shall and shall not be...
Hitler did that, too... having fooled (along with many other guillible voters) the capitalists into supporting him and the Nazis, only to, after coming to power, crack down on them and nationalize whatever he saw before him...
Next thing you know, Obama, like Hitler did, is going to make all able-bodied Americans serve the state, wear uniforms, spend time in indoctrination camps to prepare them to serve the state... Oh, wait... Of course I'm sure y'all have already heard of that... right? The legislation has already passed Congress...
JDN - that's an interesting scenario but I doubt if it was that planned. You are assuming that without this 'manufactured crisis' increased regulations couldn't be moved in; I disagree; I think that they could readily use even the term 'bailouts' to put in increased regulations.
The agenda of control will, as others have pointed out, drive the best people out of these financial and industrial institutions.
First, I think that Obama hasn't a clue about anything - economics, finance, foreign affairs, industrialism, capitalism..and even socialism. There's not a shred of evidence of any past analysis by him on such topics. His focus is singular; it's narcissistic, it's strictly on 'being able to control other people' and having them swoon over him. Period.
He's aligned himself with socialism because it removes agential power from individuals and puts them under the thumb of Big Government and he's put himself in as Sovereign Ruler. As he constantly keeps reminding everyone, 'I'm the President'.
His malice towards capitalism, the development of wealth, entrepreneurship etc..I suspect that this comes from his wife, Michelle. She's the one with the real hatred for both white people and wealthy people. She's the reason for his alignment with the anti-American, racist socialist Rev. Wright.
What Obama is doing, and I doubt if this is conscious, is setting up a government structured within the Sovereign-Ruler framework. He's the Sovereign-Ruler - and he's aloof from accountability. He accepts no real responsibility; he remains rooted in abstract emotions of 'hope and change'.
In a strange sense, he's both the Queen (eg of England)who is above politics..and..Louis XIV..who DID interfere in governance. Obama wants it both ways. And when anything he proposes hits a snag, he'll instantly retreat to the 'Queen' mode where it is Congress which is the culprit. Not him.
The bad guys, the ones who do the stupid stuff, that's the level BENEATH Obama - Congress. Business. Industries. Financial Institutions. Factories..in other words..everyone who makes specific decisions. Obama is always going to blame others.
So- Obama is going to spend more time on the pop culture trail, on TV shows, in Town Halls, in areas where he, himself, is never exposed to any questions, any accountability. If he is questioned, and any and all press conferences will be controlled with all questions preselected...he'll blame 'My Administration' or 'Members of Congress...esp. Republicans.
He wants to be re-elected. So, he's going to appeal to The People..and he'll soon be bringing up class and racial divisions..as soon as he senses a loss of popularity.
bob: "leaving only yo-yo's working at these places"
Seems like the yo-yos are the ones who destroyed their institutions in the first place - i.e. the recipients of the bonuses. BTW, at least 14 of the biggest fish have already taken the money and run.
The bonus question is a sideshow - possibly deliberately instigated as suggested by JDN. The real issue, which hasn't yet registered with the U.S. public, is the destruction of their currency.
That being said, and even though it's "only" $165 at stake, I say "go get the useless bastards who want taxpayers to reward them for stupidity and incompetence." If the feds can actually get the money back (questionable) it will at least make people feel better.
"Sorry Frank, we can only pay you $1 mil for the VP position, but let me introduce you to my friend here who very much wants to offer you a completely unrelated lucrative consulting contract."
Zog: "Seems like the yo-yos are the ones who destroyed their institutions in the first place - i.e. the recipients of the bonuses."
Oh, I dunno about that. It seems like these fellas rather cleverly pulled off their legal heist.
And don't forget,that Dumbo said on the Jay Leno show,he only bowls 129,so he's qualifed for the Special Olympics.Even Leno was so embarrassed,he went to comercial.
Yup.One Big Ass Mistake,America.
I don't know if it was deliberate or not. I can't decide. I feel that any system that allows some of these people to unite into a critical mass is faulty. Can't blame capitalism for that. Voter apathy and constant pork over the years did that I think. Detachment for cause. Hope? Why not? Change? Ditto.
When does the tax on athlete and actor wages come in ... after all, who's worth millions of dollars for simply hitting a ball with a bat or for doing 1000 takes in order to get a 5 second scene right.
As I understood it, the bonus money was for those who successfully wound up their portfolios. That is to say, they are working to end their own jobs.
Those who were responsible for the mess had been fired quite a while ago.
To direct anger at those who are trying their best to wind up the affairs of the toxic segment of the business, and thus be out of work is patently unfair.
Not to mention there were legal contracts in place.
Direct anger to where it belongs. To those idiots in Congress and the Administration.
ET, I think JDN's scenario is not just plausible but likely. Think about it:
1. Obama's administration makes changes to bills to *ensure* that the AIG executives get paid their bonuses, then, almost immediately --
2. Spurs public anger by launching inflammatory attacks on the 'unjust' and 'obscene' payments to 'the rich,' then --
3. Calls for increased oversight of executive pay (according to Drudge sources -- we'll see) at other companies, as part of a "sweeping plan."
Numbers one and two are just facts. And if what Drudge's sources are saying (number 3) turns out to be true, the first two are a set up for it.
You know what many of Obama's supporters are like -- they're inflamed and eager for redistributive 'justice.' They're going to elide the fact that His administration ensured that the execs would get those 'obscene' payoffs, and support Obama's populist-pandering characterization of the greedy rich, and think it's reasonable, in light of those 'obscene payoffs, to limit executive pay all around.
FWIW, I don't think there's any question that Obama has always had a "sweeping" plan to socialize the US; I assume that everything he does, and has done, is part of a "plan."
I'm often a bit taken aback how executives are generally seen as evil for accepting huge pay, bonuses, perks, etc (whether they're deserved or not is not the point here), yet those who approve and hand it to them get off scot-free. Some of the comments here prove my point. These guys didn't just reach in and take the money, it was handed to them. There is NO ONE who would turn down that kind of dough if it were offered to them (I've been in a similar situation, now long past, and *sigh* it was sweet).
I'll admit ET that it might be a stretch to say that this play was all planned from the start. Had the bonuses gone unnoticed, then the banks and their executives could and would have been used as allies/pawns as much as possible. But, as we all now know, just like Bill Ayers, Rev. Wright and others, they got noticed and became liabilities, so under the bus they went (echo Canadian Sentinel, above).
The Tonight Show appearance wasn't just a distraction (that went horribly wrong - I really doubt that that was planned), it was to get NBC on side. Without his teleprompter to hold him up Obama could have been eviscerated - he knows it, Leno knows it. Yet NBC also needs a ratings boost and the POTUS TV addresses are costing them ratings.
So, how do you spell blackmail? Answer: S-N-L. Tina Fey's shtick damaged Sarah Palin's election chances. And remember the Bush/Pelosi/Sandler/Frank/Soros skit awhile back? You know it touched a nerve when the original got pulled from the web and was redacted. NBC, using SNL, could have made some serious hay with the bonus issue. With the Leno spot, Obama and NBC are best buds - for now. SNL might be interesting to watch tonight, and prove me wrong ;-)
Soon all those lefties who said they were going to leave the US if Bush was re-elected are going to come to Canada as it will be the only place they can get a job. I recommend to Mr. Kenney that we set up political profiling at the border - no lefties allowed.
Seeing as wall street and the banking community were the biggest contributors to Obozo's election I feel no sympathy for their plight. I only feel sorry for Canadian companies who will lose their business opportunities in the US.
The bonuses were 'retention' bonuses not performance bonuses. They were meant to keep someone around to run the companies. Imagine now if a majority of the best people decide to head to greener pastures. Just how is that going to help Ogabe's plan to revive these companies and the economy?
Or... did Ogabe plan it this way to really tank the US economy to allow him even more control, eventually abolishing free elections and declaring himself Dear Leader for life?
Chavez notes that Obama doesn't seem to know very much about Latin America.
http://www.etaiwannews.com/etn/news_content.php?id=899368&lang=eng_news
He don't know much about history, he don't know much geography, but he do know that 250K is rich, and he do know that his wife's a bitch. What a wonderful world this is.
It's beginning to look like the Obama administration is taking after the likes of the Chinese Communist Party and Hitler's National Socialists... they were everywhere, looking over everyone's shoulders, making everyone nervous and stressed-up... How the hell can anyone run a business with those vultures perched on their shoulders?
Who, now, can deny that Obama and the Democrats are SOCIALIST FASCISTS and DICTATORS?
Well if the bonuses might not been noticed at $165 million, there are reports now coming out that the $165 million may be turning into $260 million or more in bonuses.
And they would have been noticed at some point.
The Chinese Premier stated to the accountants at a national meeting last year - 'MAKE NO FALSE ACCOUNTS.'
Hmmmm, does China still have capital punishment?
Gee, I wonder if the CWB ever made any 'false accounts'?
Now that Caterpiller has laid off so many employees, where oh where is the Obamessiah going to find enough bulldozers for his Chavez-style socialist agenda? Enquiring minds need to know.
"Any self respecting capatalist will bail and find work elsewhere, leaving only yo-yo's working at these places."
(heads off to find Galt's Gulch)
reminds of a crooked condominium association I belonged to; they made everyone's life so miserable, many residents had to sell their homes at a loss.
EBD - No, I don't agree with your outline.
First, those bonus payments are the norm in all financial institutions, whether you call them merit or retention or butterscotch candies. As such, they are part of the contracts of the management employees.
Therefore, my second point, is that even with public funds being put into the company, even with the company becoming de facto a public company, these contracts are legal. A new employer has no legal ability to overturn these contracts.
Second, there weren't any changes to the bill to ensure that the contracts were upheld; there was specific language inserted to ensure that the 'new employer' acknowledged the legal status of these contracts. My point is that the bill did not say - NO BONUSES..and then, Obama's team changed this 'no bonuses'. The new verbiage was to ensure that existing contracts were honoured by the 'new' owner of the company, the public.
Third, the public anger was a result of these bonuses being made public. It was spurred on by the administration who tried to shift the blame. Obama tried to shift the blame from himself, who signed the bill, to those executives who were paid.
And, he compared them to terrorists. That's outrageous. Just outrageous - to compare executives of these companies to terrorists out to destroy the country and blow up civilians. But that's what Obama did.
He could have deflated the whole thing by informing the public that the amount is less than 1% of the total; that these contracts are law and that he is SWORN to uphold the law. Instead, he pretended outrage and anger. Why?
I think the administration was shocked by the anger and tried to deflect criticism. You had Obama blaming the Executives. You had Dodd denying any role and then admitting it but setting himself up as a hapless tool of 'the Administration'. You had Geithner denying and then admitting knowledge.
You have that obscene Barney Frank with his slobbering blather about 'getting the money back'.
Oh - and ALL these guys have benefitted, in the six figures, from AIG donations. All of them.
I agree with JDN's latest where he says that because these bonuses got noticed, then, Obama and his administration threw them to the wolves, i.e., the mob.
I totally agree with you that Obama's emotional makeup is such that he dislikes the 'white rich mna' - but I feel that this is Michelle's mindset. So, his agenda is to harm them but I s till feel that he, himself, is a puppet of a backroom gang. He has no ideology.
I still maintain that Obama's only thoughts and focus are on himself. He has nothing else in his mind. No capacity to think about policies and programs and their effects. None. His only agenda is to ensure that HE feels that he controls YOU. This then begs the question - who is running him? Who is telling him what to think and do? In large part, it's his wife, Michelle, whom I think is the one with the focused anger - anti-white, anti-wealth. And who else? Obama doesn't do anything on his own. As Krauthammer said, he's never even run a candy store.
Obama received over 2 million in royalties last yeare on his books; he's just received a 500,000 advance for a children's version of his first autobiography. He's not capable of thinking about anything other than himself.
However, to retain his 'appeal' and this is psychologically vital to Obama, he relies on popular emotional - not rational - support. And to deflect rejection of his policies, he'll set up a class war and a race war.
We are now seeing the class war. Obama relies on the 'victims' (remember his 'community organizer days)..to support him. He's going to incite more victims..and he plays to them, telling them how he too is a victim.
Then, he'll move to racism. Watch for that next.
I've said that there are TWO different agencies in the White House. There's Obama's agenda, which is strictly based on his own pathological narcissism to be drooled over and to control everyone in his vicinity. As president, this moves him into the Sovereign-King role.
There's another agenda, and that's the people who run him; they are socialist ideologues and their agenda is to set up a two class system, with the government as the Elite Guardians..and the rest of the population as dependent.
This second agenda fits perfectly with Obama's narcissism. But I still maintain that Obama, himself, doesn't 'think' in this ideology. He doesn't think at all. He exists only within his narcissism and its requirement for him to control other people and have them 'adore' him.
Nothing less than the left's version of McCarthyism.
Have they no shame?
Regulation is not what is needed. What is needed is deregulation - the outlawing of poison pill corporate structures that reduce and violate shareholder rights and this make executives and upper management immune from better corporate governance initiatives. Pickens et al got a bad rap by being called corporate raiders- they made a lot of badly run companies clean up their act and shareholders a lot wealthier.
I second ET's many posts on Obama being the ultimate narcissist. The man is a total fake. He cannot speak without "reading" something fed by someone else. When he reads, he does not "hear" and acknowledge what he just said. It's like when we hum to a tune we like and sometimes we'll sing what we think the words are, even if we are not sure they are the proper words. We just sing words in tune with a melody often times not paying attention to the message or even if it makes any sense...Catch my drift?
The man is pure hollywood/American entertainment make believe. In fact, the perfect symbol for the final crash and burn of an Empire in decline since the late 60's. Sad.
This is why without script, the O is a studerring foul with limited vocabulary and poor overall phrase structuring.
The worst part and again I concur with ET here is that the man has no interest in anything but himself. No mastering of history, economics, geopolitics. Nothing. Just like the vast majority of his supporters: Entertainment and make believe with idol worship.
Now that we suspect this, the question is: Who's really calling the shots? Who's directing the orchestra? Who's drafting the blueprint?
Michelle might be Barry's pillow talk coach, but I'm sure she's getting coached too...By who?
Some of the answers may lie in the documentary:
"The Obama Deception" posted on youtube.
I'm not big on conspiracy moonbattery but I must admit a lot makes sense and is quite plausible. This movie is absolutely non patisan BTW lefties and it links the Bush WH in many ways too.
Check it out.
It is morbidly fascinating to watch Atlas Shrugged unfolding before my eyes.