Comments on: Is President Obama Creating a Better Banking System by Capping Executive Pay?

By: David Spence III

David Spence III — Mon, 16 Feb 2009 05:25:07 +0000

Noone is even mentioning the actual cause of all this mess. Banksters counterfeiting money and ‘loaning’ out that counterfeit money is robbing the entire US economy, of TRILLIONS on a regular basis. It created the Great Depression, and it has caused all Americans to go into debt for life to buy a place to exist. These banksters heavily contribute to PACs on both sides in elections, so that whoever wins, is still indebted as an accomplice. Quid pro quo. I don’t think even Ron Paul has mentioned this small fact concerning ‘Mariginal Banking’, or digital counterfeiting.

By: Rich Burritt

Rich Burritt — Mon, 16 Feb 2009 00:29:57 +0000

Repealing Glass- Steagle was indeed a factor, but the key that opened Pandoras Box was the SEC ruling on April 28th, 2004 that allowed unlimited leverage by the big five investment banks. Check it out on Wikipedia under the name William Donaldson!!

By: Greg Keeports

Greg Keeports — Sun, 15 Feb 2009 18:09:31 +0000

The premise of limiting executive pay to fix the behavior of Wall Street is rather shallow thinking. Focusing banking management into “competent administrators” who are happy with limited pay is a recipe to move the industry into a pseudo-government philosophy that takes no risk and will eventually whither. This is a really dumb idea and supreficial on how to correct the economic problems we face today. it does make good press, but I thought your purpose was to provide unbiased analysis.

By: Lex Willmott Australia

Lex Willmott Australia — Sun, 15 Feb 2009 04:10:55 +0000

No one ever works ahrder than the person who owns the business,
Yes cap the salary and make the bonus the reward,
open to all in the company,

This makes all working as an owner of the business, so all employees will work harder to gain more bonus money,
also capp the expenses tighed to performance bonus,

We had the case where a company CEO lost 28 million for a large Telco in Australia recd a bonus, as they sold assets so the loss against the capital assset sales a false, profit, allowed the no good CEO to make a bonus, how silly of the system.

By: nizar mecklai

nizar mecklai — Fri, 13 Feb 2009 15:24:34 +0000

I do not believe that paying CEOs excessively makes them any better CEOs. In fact they get corrupted as the meltdown has proved.
Taxes tend to encourage people to seek devices to avoid and/or evade what they consider as Government taking away their lawfully earned returns. Instead, it would be better to eliminate personal income taxation and replace with better scrutiny of corporate taxes, trading taxes and not allow any form of deductions at all. Government, as it is doing presently doing, should print its requirements which would be more easily monitored by Congress and Senate, and would be a tax on the whole population through managed “inflation”.

By: Scott

Scott — Fri, 13 Feb 2009 14:30:15 +0000

“Had regulators prevented the mortgage finance institutions Fannie Mae (FNM) and Freddie Mac (FRE) from paying their top managements $10 million a year ”

I think we’d be reading an entirely different article today, if that had happened. That’s the type of changes government should be focused on; fix the parts of the system they are already responsible for.

By: Mary Rebo

Mary Rebo — Fri, 13 Feb 2009 12:39:05 +0000

Its time we socialize things and get back to basics.

By: Walls

Walls — Fri, 13 Feb 2009 11:44:05 +0000

Time enforce all anti American laws and have some public executions! Stone em and get our business some integrity! Start with politicians, lawyers and doctors!

By: Herb Radding

Herb Radding — Thu, 12 Feb 2009 19:59:02 +0000

Interesting article but knowing how people can game a system I doubt that this will eventually have any better result then we have now. Funny, how no one is bringing up the point that much of this disaster was caused by the law change eliminating Glass-Steagall. Glass-Steagall was put in to effect in 1933 and served us well. When Clinton signed its death the risk takers were then able to get together with the conservative bankers and screw the system. 6 Trillion in the dumper later still no one mentions one of the major causes. Amazing

By: Steve Willman

Steve Willman — Thu, 12 Feb 2009 17:28:21 +0000

Excellent analysis. The “whiz kids” have their place in our economy and we need them. We just don’t need them to play with ALL the cards.