Bush: fighting for the rich and against the working man.The Bush Administration inserted an eleventh-hour provision into the $750 billion bailout bill to protect executive bonuses, a single sentence that will torpedo efforts to reduce bonuses even as companies slash tens of thousands of jobs and use taxpayer money to gobble up other companies at fire-sale prices.
Bush Administration created executive pay loophole
Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that break the rules. But at the last minute, the Bush administration insisted on a one-sentence change to the provision, congressional aides said.
WaPo: Executive Pay Limits May Prove Toothless; Loophole in Bailout Provision Leaves Enforcement in Doubt
Senate to Middle Class: Drop Dead ...a message from Michael Moore
The GOP: fighting for the rich and against the working man...
Here's the real reason the Republicans voted against the auto bailout:
Senate GOP Rejection of Auto Loans Seen as “First Shot Against Organized Labor”
General Motors has announced plans to idle twenty of its North American factories during the first three months of 2009. GM made the announcement on Friday, one day after Senate Republicans blocked a vote to approve $14 billion in loans for GM, Chrysler and Ford. President Bush said his administration is now considering tapping the bank bailout funds to keep GM and Chrysler out of bankruptcy. Ron Gettelfinger, president of the United Autoworkers, blamed Senate Republicans on the collapse of the auto loan package.
Ron Gettelfinger: "We could not accept the effort by the Senate GOP caucus to single out workers and retirees for different treatment and to make them shoulder the entire burden of any restructuring.”
A leaked internal memo indicates Republicans viewed defeating the loans as a “first shot against organized labor.” The memo stated, “This is the Democrats’ first opportunity to pay off organized labor after the election. This is a precursor to card check and other items. Republicans should stand firm and take their first shot against organized labor, instead of taking their first blow from it.”
Republicans hate America and American workers; love the rich!
Is Senate GOP trying to break union?
...the original Ponzi scheme:
Charles Ponzi in his office in August 1920, looking confident as things unraveled.Don't get your PONZI schemes mixed up; there's the CITIBANK ponzi scheme and the Madoff ponzi scheme. Nice! How come they don't call this TERRORISM? We're having a financial crisis, what exactly are these people doing?
Below: Merry Fucking Christmas! This guy killed his boss at the Christmas party...he fired on him for firing him! No bonus for you!
Police allege Eric Allen Kirkpatrick, 61, opened fire at the TallGrass Distribution Ltd Christmas party, killing Benjamin David Banky, 40.
U.S. homes lose $2 trillion in value in '08. Home prices are have been hit hard, yet there is still no end in sight to the foreclosure crisis.
Collapse of Pension Funds: The End of Retirement?
Apparently, the automakers lacked the clout to threaten martial law, did not have a Goldman Sachs stand-in like Hanky Panky, our "beloved" Treasury Secretary, to champion their cause, and could not order an orchestrated PPT takedown of the Dow by 777 points.
