Dear Reader,
This is an excellent piece, and I want you to read it! Please click the link to read
I mean what’s up with that, man? Bowing to a saudi king as President of these great united States!
Thank you for your patience while I transition to the new No Compromise blog.
~No Compromise
NC: Turn up your speaker volume… Enjoy.. (and weep)
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VA. Sen. Jim Webd threatens Private Citizen
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~No Compromise
TR: Have the Sheeple been so sodomized by the ravaging Porkulus Demoncatus that they are going to fall for this? Folks, they’re now ‘strapping-on’ boosters which are rocketing us straight into Socialism. Are we so dumb as to let Big Daddy and Frank’n’Beans Barney exercise some despotic authority to take over any company, set its salaries, and run it straight into the ground, IF they accept $1 in aid or subsidy from this beast? Really? Please, THINK ABOUT THIS PHONY OUTRAGE BIG DADDY HAS SUCKED YOU INTO – and the power you are about to relinquish to never be seen again!! From what part, exactly, of the U.S. Constitution is this power-grab authorized? That’s right – from nowhere! Prepare to bend over for Big Daddy..
By Byron York
Behold, Happiness.
It was nearly two weeks ago that the House of Representatives, acting in a near-frenzy after the disclosure of bonuses paid to executives of AIG, passed a bill that would impose a 90 percent retroactive tax on those bonuses. Despite the overwhelming 328-93 vote, support for the measure began to collapse almost immediately. Within days, the Obama White House backed away from it, as did the Senate Democratic leadership. The bill stalled, and the populist storm that spawned it seemed to pass.
But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the “Pay for Performance Act of 2009,” would impose government controls on the pay of all employees — not just top executives — of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.
The purpose of the legislation is to “prohibit unreasonable and excessive compensation and compensation not based on performance standards,” according to the bill’s language. That includes regular pay, bonuses — everything — paid to employees of companies in whom the government has a capital stake, including those that have received funds through the Troubled Assets Relief Program, or TARP, as well as Fannie Mae and Freddie Mac.
The measure is not limited just to those firms that received the largest sums of money, or just to the top 25 or 50 executives of those companies. It applies to all employees of all companies involved, for as long as the government is invested. And it would not only apply going forward, but also retroactively to existing contracts and pay arrangements of institutions that have already received funds.
In addition, the bill gives Geithner the authority to decide what pay is “unreasonable” or “excessive.” And it directs the Treasury Department to come up with a method to evaluate “the performance of the individual executive or employee to whom the payment relates.”
The bill passed the Financial Services Committee last week, 38 to 22, on a nearly party-line vote. (All Democrats voted for it, and all Republicans, with the exception of Reps. Ed Royce of California and Walter Jones of North Carolina, voted against it.)
Banking Queen - starring Barney Frank!
The legislation is expected to come before the full House for a vote this week, and, just like the AIG bill, its scope and retroactivity trouble a number of Republicans. “It’s just a bad reaction to what has been going on with AIG,” Rep. Scott Garrett of New Jersey, a committee member, told me. Garrett is particularly concerned with the new powers that would be given to the Treasury Secretary, who just last week proposed giving the government extensive new regulatory authority. “This is a growing concern, that the powers of the Treasury in this area, along with what Geithner was looking for last week, are mind boggling,” Garrett said.
Rep. Alan Grayson, the Florida Democrat who wrote the bill, told me its basic message is “you should not get rich off public money, and you should not get rich off of abject failure.” Grayson expects the bill to pass the House, and as we talked, he framed the issue in a way to suggest that virtuous lawmakers will vote for it, while corrupt lawmakers will vote against it.
“This bill will show which Republicans are so much on the take from the financial services industry that they’re willing to actually bless compensation that has no bearing on performance and is excessive and unreasonable,” Grayson said. “We’ll find out who are the people who understand that the public’s money needs to be protected, and who are the people who simply want to suck up to their patrons on Wall Street.”
After the AIG bonus tax bill was passed, some members of the House privately expressed regret for having supported it and were quietly relieved when the White House and Senate leadership sent it to an unceremonious death. But populist rage did not die with it, and now the House is preparing to do it all again.
TR: But, that’s not all folks, they’re working hard to extend this goodness to ALL companies – From a recent article in Financial Week:
Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said.
“There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today.
He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies.
Rorschach Test.
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Press refuses again to check and report the facts, this time in BART shooting
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~No Compromise
If only the media would actually go after the politicians like Beck did in this video!
Vodpod videos no longer available.
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Bailout Schemes Approach Entire U.S. GDP
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~No Compromise
Dear Reader,
This is a must read article and I don’t want you to miss it so please click:
Thank you for your patience while I transition to my new No Compromise blog
Kindest regards,
~No Compromise
by Sid Bridge, Financial Correspondent for the whole whirled!
Heck, it's all fake anyways, except the Ukluku!
The Chinese push for a world currency has raised a world-wide uproar over whose currency would prevail. China was quick to suggest its own currency, the Mao. The controversial Mao is a 12 inch diameter disk that is dominated by a large depiction of Chairman Mao Tse Tung.
“We believe it’s time for the world to use our currency,” said Chinese President Hu Jintao, “We expect to cover the world with Chinese people by 2030 anyway.”
President Barack Obama was quick to promote the American dollar.
“The dollar is the greatest currency in the world,” said Obama, “Right now it’s up against the Euro by… no, wait, it’s down. No, it’s up again. No. It’s down. Look, it folds nicely and fits in most wallets.”
In a rare show of unity, African countries came together to promote their currency.
“It’s time that the world recognized a significant portion of its population, Africans,” said Zaire’s President Mbeko Fambiki, “For hundreds of years we have traded with the Ukluku, a round ball of Ibex dung placed at the end of a stick. It is cheap to produce and accepted all over Africa. Let us throw our Uklukus at you.”
Not to be outdone by the show of unity, South American countries stood together, represented by Brazilian President, Luiz Inacio Lula Da Silva.
“South America is an up-and-coming economic giant,” said Da Silva, “We trade in the one currency that the world understands and values – lines of Brazilian cocaine. Try walking into a store with some of our currency and see how popular you are!”
The other super power in the world weighed in as well.
“The Russian people are proud of the Ruble,” said Vladimir Putin, “It’s a nice coin and it’s worth, um, we don’t have a chance at this, do we? Screw ya’ll.”
“Obviously, the Euro is the only choice,” said British Prime Minister Gordon Brown, “It’s valuable, pleasant, quite attractive, well sized, articulate. I say, hello? Where has everyone gone? Excuse me, I’m trying to lecture you on a currency. How rude.”
Canada also expressed concern about being left out of the process.
“Our dollar’s totally different from the American dollar,” said Canadian Prime Minister Steven Harper, “It doesn’t even work in their Coke machines. You’ve got to listen to us! We really have a country, too. We have hockey and public restrooms here! Will someone please recognize Canada?!”
No Compromise When You're Right! 