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Thread: The House investigating Pres. Obama, re: bonuses for bailout corps

  1. #1
    Elite Member Grimmlok's Avatar
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    Thumbs up The House investigating Pres. Obama, re: bonuses for bailout corps

    A congressional oversight committee opened an investigation yesterday into whether the Obama administration is circumventing a law that limits lavish pay for executives at firms benefiting from the $700 billion federal bailout....

    The investigation comes two days after The Washington Post reported that the administration has engineered new bailout programs in a way that it believes will allow firms benefiting from the initiatives to avoid congressional restrictions that curb executive pay and require companies to turn over ownership stakes to the government.

    Some experts and congressional staff have questioned the legality of that approach.



    A few points. First, a Democratic Congress is providing oversight three months into a new Democratic administration. When did the Republican Congress ever investigate anything that the Bush administration did. Ever? So, regardless of whether we like Democrats investigating Democrats, this is a good thing for our democracy and for our country's general well-being.

    Second, this issue, which we reported on a few days ago, about the administration supposedly looking for ways to circumvent the recently passed pay restrictions, is all the more evidence that someone inside the executive branch simply does not get it. Was the recent blow-up over AIG not evidence enough of how strongly the public feels on this issue?

    And finally, Geithner (and Summers). Part of the reason - probably the main reason - people are willing to believe stories like this, and that Congress is willing to investigate stories like this even when they concern our own administration, is because of the presence of Geithner and Summers. People would likely give Obama the benefit of the doubt. Not likely with the other two. They will continue to be a lightning-rod for trouble.


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    Elite Member kingcap72's Avatar
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    They should do whatever they have to do to stop these damn bonuses.

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    Elite Member celeb_2006's Avatar
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    But how are they going to retain the best and brightest without bonuses, a 500,000 dollar cap isn't enough to maintain their lifestyle???


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    Elite Member witchcurlgirl's Avatar
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    they are going to do nothing to stop the bonuses.

    the men in charge of the treasury are Wall St owned. In fact, they have collected huge amounts of money from Wall St. the foxes were placed in charge of the hen house.

    You don't bite the hand that feeds you.

    They'll just make some bullshit statements about pitchforks, etc, and assholes that never read past the first paragraph of an article will think- 'Yeah, the President is mad, he'll take care of it'......but the money will still go to these people.
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    How positively Democratic of them. It's good that the investigation is happening, but where the fuck were they when Boosh and Co. needed impeaching, much less investigated up the wazoo?

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    Elite Member KandyKorn's Avatar
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    Quote Originally Posted by witchcurlgirl View Post
    they are going to do nothing to stop the bonuses.

    the men in charge of the treasury are Wall St owned. In fact, they have collected huge amounts of money from Wall St. the foxes were placed in charge of the hen house.

    You don't bite the hand that feeds you.

    They'll just make some bullshit statements about pitchforks, etc, and assholes that never read past the first paragraph of an article will think- 'Yeah, the President is mad, he'll take care of it'......but the money will still go to these people.
    Spot on! That is EXACTLY what is happening and people don't seem to get it. I mean, c'mon, you think our government really gives a rat's ass what the American public thinks?? They've been screwing us since the beginning of time, why would that stop now??
    I'm not quite drunk enough to really care, but is this her violation of her violation of her violation of her violation of probation or her violation of her violation of her violation of her probation????? ~MontanaMama on LL's latest arrest.

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