Comments on: How Feinberg set executive pay http://blogs.reuters.com/felix-salmon/2009/12/30/how-feinberg-set-executive-pay/ A slice of lime in the soda Thu, 23 May 2013 02:25:55 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: Dollared http://blogs.reuters.com/felix-salmon/2009/12/30/how-feinberg-set-executive-pay/comment-page-1/#comment-10678 Dollared Sat, 02 Jan 2010 06:41:50 +0000 http://blogs.reuters.com/felix-salmon/2009/12/30/how-feinberg-set-executive-pay/#comment-10678 This isn't really about pay restrictions. It's about corruption. Put this together with the post above linking to MR. The point of the MR post is that we are inflating the real return of money that the big banks can borrow (from us), while depressing the return that ordinary savers can earn, in order to pump up bank earnings, so that we can help them "earn their way out of insolvency." Geithner is in charge of hiding this set of facts. And then they take those gross earnings, stolen from Main Street, and pay 80% that amount out to their traders and top 5% execs. And Feinberg is helping hide this set of facts. What does it all mean? That we're trying to recapitalize a kleptocracy. We're all Nigeria now. I hope the New Obama Democrats get 5% of all that action. Because they won't get another dollar from me. This isn’t really about pay restrictions. It’s about corruption.

Put this together with the post above linking to MR. The point of the MR post is that we are inflating the real return of money that the big banks can borrow (from us), while depressing the return that ordinary savers can earn, in order to pump up bank earnings, so that we can help them “earn their way out of insolvency.” Geithner is in charge of hiding this set of facts.

And then they take those gross earnings, stolen from Main Street, and pay 80% that amount out to their traders and top 5% execs. And Feinberg is helping hide this set of facts.

What does it all mean? That we’re trying to recapitalize a kleptocracy. We’re all Nigeria now.

I hope the New Obama Democrats get 5% of all that action. Because they won’t get another dollar from me.

]]> By: MarkC123 http://blogs.reuters.com/felix-salmon/2009/12/30/how-feinberg-set-executive-pay/comment-page-1/#comment-10666 MarkC123 Fri, 01 Jan 2010 17:04:01 +0000 http://blogs.reuters.com/felix-salmon/2009/12/30/how-feinberg-set-executive-pay/#comment-10666 There are a hundred reasons why pay restrictions simply won't work, as this post and the Brill article illustrate. The proper solution for excessive pay is tax policy: we need to substantially increase marginal tax rates on excessive cash salaries or other compensation policies that don't encourage long-term alignment of individual and corporate interests. But of course, as Felix says, rationalizing pay is not really the point here. There are a hundred reasons why pay restrictions simply won’t work, as this post and the Brill article illustrate. The proper solution for excessive pay is tax policy: we need to substantially increase marginal tax rates on excessive cash salaries or other compensation policies that don’t encourage long-term alignment of individual and corporate interests.

But of course, as Felix says, rationalizing pay is not really the point here.

]]> By: Dollared http://blogs.reuters.com/felix-salmon/2009/12/30/how-feinberg-set-executive-pay/comment-page-1/#comment-10641 Dollared Thu, 31 Dec 2009 18:08:23 +0000 http://blogs.reuters.com/felix-salmon/2009/12/30/how-feinberg-set-executive-pay/#comment-10641 Could we all just wallow, deeply, in the fact that Obama's pay czar is actively, consciously engaged in evading the specific law he was hired to enforce, and deliberately consciously engaged misleading the public regarding the exact facts he was hired to make transparent, all in order to inflate the pay of a bunch of undeserving, incompetent upper class hacks who ran their companies into the ground? This is disgusting. And if Obama can't see that, he really is no different from Bush. Really. Could we all just wallow, deeply, in the fact that Obama’s pay czar is actively, consciously engaged in evading the specific law he was hired to enforce, and deliberately consciously engaged misleading the public regarding the exact facts he was hired to make transparent, all in order to inflate the pay of a bunch of undeserving, incompetent upper class hacks who ran their companies into the ground?

This is disgusting. And if Obama can’t see that, he really is no different from Bush. Really.

]]> By: Snyderico http://blogs.reuters.com/felix-salmon/2009/12/30/how-feinberg-set-executive-pay/comment-page-1/#comment-10608 Snyderico Thu, 31 Dec 2009 04:54:41 +0000 http://blogs.reuters.com/felix-salmon/2009/12/30/how-feinberg-set-executive-pay/#comment-10608 They don't need to send Neal a thank you note. They'll just give him gobs of money when he goes back to private industry from the government in a couple of years. They don’t need to send Neal a thank you note. They’ll just give him gobs of money when he goes back to private industry from the government in a couple of years.

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