Monday, September 22, 2008

"A heck of a job, Brownie. . . '

Oh, get this.

Today, President Bush advised that the $700 billion bailout be passed quickly and NOT include any caps on executive compensation. According to ABC news:

President Bush added his voice to the urgency of the legislation today and urged Congress to quickly pass the measure and to drop its plans for amendments, saying their demands would "undermine the effectiveness of the plan."

"Indeed, the whole world is watching to see if we can act quickly to shore up our markets," Bush said.

The White House later issued a statement urging Congress to not insist on a cap for executive compensation.

"We need these firms to participate in the program and sell us this debt. Having punitive measures would provide a disincentive for firms to participate, and that would make the program much less likely to succeed," the White House said.

No caps on executive compensation??? These executives are ultimately responsible for the debacle. This fiasco is the epitome of corporate greed and Bush says there should be no limit on their compensation?

Most of these CEOs will get a nifty multi-million dollar severance package and a pat on the back reminiscent of “You’re doing a heck of a job, Brownie.”

If anything, the profits that these executives have earned for the past eight years should be taken away and placed toward that $700 billion dollar balance. Real-estate included.

Then, they should be forced to live in public housing for the next eight years.

Oh wait. There are no funds for social programs. I forgot about that.


At 10:29 PM , Blogger Miss Healthypants said...

Yet another reason why I hate Bush. :)


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