President Obama Limits Executive Compensation for Bail Out Companies Plus Wells Fargo Pays US $300M

President Obama and the White House announce caps being placed at $500,000 on the salary of the top person of any company that receives Government Bail Out Compensation, plus restricted stock cannot be sold until stock holders are paid out first. Plus, Wells Fargo pays their first interest payment back to US Government/Taxpayers.

Category:

News & Politics

Tags:

• President
• Obama
• Treasury
• Secretary
• Timothy
• Geithner
• Wells
• Fargo
• Taxpayer
• Interest
• Payment
• Bail
• Out
• Executive
• Pay
• Stocks
• TARP

[GettingtotheTruth2]

Since it seems that there are many people who do not understand the role of stock holders....

Since the government, i.e. US Citizens are now major "stockholders" in every company that receives tax payer monies TARP, the government, i.e. us, have say in how the companies are run.

And if that means we want a cap the salaries of CEOs and other executives who essentially work for us, then we have every right.

[GettingtotheTruth2]

And as the video states, if a company asks and decides to take TARP, they are no longer "private" (which none of these institutions actually are, since they all have stockholders, which means they're public companies, anyways) since they are own by us.

And with that, the company is subject to how the stockholders want the companies to be run, which again means, the stockholders (ie us) can choose to limit executive compensation--such as a CEO can choose to quit.

[GettingtotheTruth2]

Backwards illogical arguments of socialism, once again proves that many viewers do not truly understand the concept.

[VoteRonPaul08]

Is this on High Def...Verizon FIOS...what is this broadcasted on? Thanks!

[GettingtotheTruth2]

Regular cable.

[amyntazoe]

all bs

[sergeantnorider]

Actually shareholders don't set rates of compensation in a corporation. The shareholders vote in or select a board of directors and the board sets the rate of compensation for the officers. So shareholders have "some say" in compensation through their influence over the board but a direct hand is another story. Not that I have a problem with what Obama did. I think that the GOP just wrote the DEM's attack ad by demanding pay cuts for auto workers but saying CEOs should get a pass. Not smart.

[lamrof]

GREED is killing us. Let's curb it.  I have not witnessed so much GREED like I witnessed last 8 years.

[matkok78]

I guess the USA cannot afford anymore to be a Smith-type society. It is different from socialism and far from communism..it seems to me that it is following the european system. Let's see.

[matkok78]

Great Obama. No other words.

[jasonrust1]

Well since you have all this extra money and by the way you must not,if you need a gov loan for college. I have an idea why don't you write a check each month to the ceo's and make sure its a good portion of your pay since you don't mind. You can't even support yourself and your whining about him putting a salary cap on these ceo's.