Wednesday, February 4, 2009

Capped at a mere $500,000/year

Obama limited the earning cap for CEOs of financial corporations recieving "exceptional" amounts of taxpayers money (i.e. yours and mine). Seems fair to me, right? Doesn't seem unreasonable since they essentially get all this money to keep their banks open and keep their job (to say the least).

Well... you just can't please all the people all the time, I guess.

“That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus,” said James F. Reda, founder and managing director of James F. Reda & Associates, a compensation consulting firm.

And another bag of scum banksta (will look up name and exact quote) told CNN that $500,000 isn't "real money" and that the average american "doesn't understand" that these guys will just look for other jobs elsewhere.
I'd like to see THAT resume:

Driving Financial Institution into ground
Shameless inflation of personal net worth at expense of tax payers

The CEO of bank of America makes about 20M a year. That means that under his new pay scale, he will make approximately 3 weeks worth of his old salary- in a year. If his living expenses are now out of whack with his new financial situation, I welcome him to the ranks of the rest of Americans living in these new so-called "economic times." And don't bitch to me about salary caps being "socialist." Once you took that handout, you forefeited the right to whine about your socialism for the rich, comrade.

I think that I, being an average American, have a pretty good understanding of what "real money" is. It's currency with which to sustain oneself and one's family and enough to save to have hope for a better future. It's money to buy milk, and bread, and diapers, and gas with. I think 500K will do them just fine.

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