So, after spending last weekend playing to the liberal media and launching a tidal wave of 10 second sound bites attacking the Bankers the Obama Administration and the Democratic Congress continues to bail out – yes the same Democratic bankers who ran Fannie, Freddie, Goldman Sachs, Bank of America and AIG ( Oh, you didn’t know they were Democrats, what a surprise, you must read the Main Stream Media) – The OBAMA ADMINSTRATION AND THE DEMOCRATIC CONGRESS HAVE DROPPED EVERY PROVISION IN THE BAILOUT BILL 2 (Now called Stimulus 2) THAT WOULD LIMIT EXECUTIVE COMPENSATION OR BONUSES – That is right! Every single provision that would limit the Executive Compensation paid by your tax dollars, every provision that would limit Executive Bonus/Perk payouts or curtail the purchase or lease of Corporate Jets has been eliminated from the Stimulus/Bailout. THAT IS RIGHT – AFTER ALL THE SMOKE AND MIRRORS – EVERY SINGLE PROVISION HAS BEEN DROPPED BY OBAMA HIS ADMISTRATION AND THE DEMOCRATIC CONGRESS. So exactly what was all the chest thumping about while the cameras were on …. politics, pure poltics. http://coloradoindependent.com/21333/executive-pay-cap-could-get-axe-in-stimulus-negotiations
Why did this happen? If you believe the bogus explanation “unamed” Democrats in Congress are offerring, it is because they, the Democrats, did not want to lose “the tax revenue generated by the payouts”. That is rich! 100’s of billions in bonus payments made out of trillions of dollars in tax payor’s money to collect a few million in taxes. Do you believe that expanation? Are you that stupid?
The real reason – the people receiving the bonus payments made possible through our tax dollars are big name Democratoic Party Loyalists who grease the right palms come campaign contribution time.
Who pays? You already know who pays ………
Only 21 months to election day ………..
Citing unnamed Democratic officials, The Associated Press reports that there’s “pressure” on Congress to drop the executive pay limits for bailed-out banks as lawmakers reconcile the differences between the House and Senate stimulus bills.
The reason? It would cost taxpayers too much.
That’s right — the federal government has lent or guaranteed trillions to Wall Street firms, many of which remain reluctant to lend the cash, and Congress might drop the executive pay cap because the $10.8 billion it would cost in lost tax revenue over 10 years (as scored by the Congressional Budget Office) is too much.
So: No conditions on lending. No restrictions on executive pay. It looks more and more like The Onion got it right when it said this bailout cash is being dumped into a hole in New Mexico.