tag:blogger.com,1999:blog-4041089218060371051.post3026736159762634225..comments2023-10-25T04:32:52.345-04:00Comments on Just Blowing Smoke...: Presidential PropertyTimothy W Higginshttp://www.blogger.com/profile/17118861693269565715noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-4041089218060371051.post-81381814223143576542010-01-20T02:07:16.035-05:002010-01-20T02:07:16.035-05:00What a great resource!What a great resource!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4041089218060371051.post-22356057936169711872010-01-08T15:48:58.422-05:002010-01-08T15:48:58.422-05:00bienbienDaniel Jack Williamsonhttp://www.buckeyerino.comnoreply@blogger.comtag:blogger.com,1999:blog-4041089218060371051.post-59697962963467205062010-01-08T13:04:10.887-05:002010-01-08T13:04:10.887-05:00DJW,
Je suis d'accordDJW,<br /><br />Je suis d'accordTimothy W Higginshttps://www.blogger.com/profile/17118861693269565715noreply@blogger.comtag:blogger.com,1999:blog-4041089218060371051.post-65586449400170838652010-01-08T12:57:25.804-05:002010-01-08T12:57:25.804-05:00Sorry, I think I made my points about as clear as ...Sorry, I think I made my points about as clear as mud. Let me try one more time.<br /><br />This time, let me acknowledge that I agree with you about upholding contracts.<br /><br />OK, point one: While you are equally disapproving of the overpaid baseball player and the overpaid Wall Street executive, I regard the Wall Street executive with far more umbrage than the baseball player because the baseball player isn't responsible for collapsing his industry.<br /><br />Point two: An additional point in rebuking the Obama administration (in addition to upholding contracts) is that it's the administration's fault, by way of the bailout, that these execs still have jobs. No jobs = no controversy over executive compensation = no need for a pay czar. Therefore, the administration's outcry should cease, since they are to blame for prolonging the existence of these companies that ought to have failed.Daniel Jack Williamsonhttp://www.buckeyrino.comnoreply@blogger.comtag:blogger.com,1999:blog-4041089218060371051.post-35577418036178884492010-01-07T15:48:15.222-05:002010-01-07T15:48:15.222-05:00DJW,
You are absolutely right that these business...DJW,<br /><br />You are absolutely right that these businesses would have failed without the bailouts and these executives would have been looking for work. (I suspect managing a business into bankruptcy wouldn't help a resume.) I therefore object to the bailouts as much as I do to the salaries and bonuses. None of that however, allows the government to violate the rule of law regarding legal contracts (which these executives had).<br /><br />Likewise, the government (much like it did in the auto industry) has determined that ownership of stock or guaranteed indebtedness appears to be less important than their "opinions" of how things should be done. This is a violation of the right of property in this country which, in my opinion, could be considered equally egregious.Timothy W Higginshttps://www.blogger.com/profile/17118861693269565715noreply@blogger.comtag:blogger.com,1999:blog-4041089218060371051.post-85486196061510479612010-01-07T14:23:33.457-05:002010-01-07T14:23:33.457-05:00If those institutions hadn't been bailed out, ...If those institutions hadn't been bailed out, then they would have gone under, and those company executives would be looking for work. Their new jobs probably would have brought their compensations in line with what they were worth. The bailouts sustained them in their positions, thus keeping their compensation bubbles from bursting.<br /><br />I object more to their overpayment than I do the baseball player or movie actor that underperforms. That's because baseball and film aren't being bailed out, because they remained sustainable industries. The bailed out companies, though, took high risks that were subsequently mismanaged, thus they deserved to fail and should have been permitted to fail. Wall Street should have been in ashes by now. Those CEO's should have been pounding the pavements by now looking for new work with resumes in hand (resumes documenting their culpability for the collapse, I might add) and there would be no discussion whatsoever about caps on executive compensation.Daniel Jack Williamsonhttp://www.buckeyerino.comnoreply@blogger.comtag:blogger.com,1999:blog-4041089218060371051.post-78515084869723944112010-01-06T09:11:15.241-05:002010-01-06T09:11:15.241-05:00nice post....nice post....Maggiehttps://www.blogger.com/profile/12677808307727487766noreply@blogger.com