"Somehow, it got stripped out behind closed doors"
I want to when the anger starts to boil up, America?
When do I see YOU in the STREETS like the Europe and and Asians?
"Congress kills bonus-repayment plan" by Associated Press | February 13, 2009
WASHINGTON - Congressional leaders killed a plan that would have forced financial institutions to compensate taxpayers for paying executives bonuses after taking a federal bailout.
Clear on whom they are working for now?
Despite all the hot air and bluster on tv and in committee?
The Senate had approved the repayment plan as part of an effort to crack down on Wall Street firms that paid huge bonuses - some in the millions - to top executives as they received taxpayer money last fall. The provision was removed as House and Senate negotiators hammered out final details of the $789 billion economic stimulus legislation this week.
A spokeswoman for Senator Ron Wyden, an Oregon Democrat, said no one spoke against the amendment when Wyden introduced it on the Senate floor. "Somehow, it got stripped out behind closed doors," said Jennifer Hoelzer.
Senator Olympia Snowe, a Maine Republican and cosponsor of the amendment, issued a statement saying the financial bailout "left open an escape hatch of golden parachutes for top executives on Wall Street."
The Wyden-Snowe amendment would have penalized companies that paid bonuses larger than $100,000 after receiving rescue funds last year. The companies would have had to repay within four months any portion of the bonus above $100,000 or face an excise tax of 35 percent on the portion above $100,000.--more--"
Related:
"Sen. Susan Collins, the Maine GOP dealmaker who's been in the limelight this week for helping to pass a watered down stimulus, has been talking a good game about the need to avoid wasting taxpayer money. But it looks like Collins also worked today to strip from the final bill a measure that's crucial to exposing that waste.... Collins used today's conference committee to drastically water down the measure, citing national security concerns as the reason for her opposition.... it's worth remembering that a key measure designed to help expose that waste was removed from taken out of the bill -- and by a senator said to be a champion of fiscal discipline. --source--w/hattip--"
Strange how that was nowhere in my Globe today.
The GREATEST LOOTING JOB in the HISTORY of MANKIND!!!
Oh, what to do, what to do....
The Chinese Solution to Wall Street's Woes
The Indian Solution to Wall Street's Woes
No Bailout ! "They Will Kill You!
Then let us EAT 'EM!!!!!!!!!!!!!!!!!!!!!!!!