Sunday, February 1, 2009
Happy to be with Akzo
Just looking at sales through January. We've had an awesome start to the year. Mr Obama said of companies last week, "There is a time for them to make profits. There is a time for bonuses. That time is not now." Well... we are making a profit. Good thing. That's what it'll take to pull businesses through this recession. Not sure how the losing money plan would pan out...probably wouldn't be around to see.
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I thought that comment was about CEOs
Seriously, I'm not arguing... in fact this is my first ever rebuttle on a political comment. Delete me if you like... this is long! Sorry!!!
He said that in response to a story in the New York Times: http://www.nytimes.com/2009/01/29/business/29bonus.html?_r=1&hp
Basically, he was saying it's ridiculous that with all the bailing out using taxes, 401K losses and all that that Execs walked out as high as ever.
For sure he wasn't talking about Akzo since they aren't on Wall Street. And I don't think he was talking about shooting down all the companies making a profit. There weren't as many as usual. He was talking about execs of companies who were paying themselves off after being lifted through our taxes. What kills me... just really kills me... and I'll be honest... I can't understand how the right wing is so good that they can spin that and make Obama a "communist" who is trying to keep businesses from making a profit. It's so far-fetched that it's comical. The sad thing is that it's so easy to spin too.
The thing is, it matters. It really does. For once, I actually think things could change. I hate to see Obama cast by the radio as a typical whatever they like to bash. Like I say, I've never defended any political figure. I'm going to give him a chance and I'd be glad to find what's wrong. I'm looking for it, but I don't want to stick him under an umbrella of "liberal" or whatever. In fact, I wrote the White House last night about government waste at NASA! The mofo hasn't written me back either :/
Here is a piece of an article:
Referring to a story in the New York Times today indicating that in 2008 Wall Street executives paid themselves $18.4 billion in bonuses -- the sixth largest such raking in recorded history, according to the New York State Comptroller's office, despite the financial sector's abysmal year -- the president, sitting at an Oval Office meeting with Treasury Secretary Tim Geithner and Vice President Joe Biden, did not hold back.
"When I saw an article today indicating that Wall Street bankers had given themselves $20 billion worth of bonuses -- the same amount of bonuses as they gave themselves in 2004 -- at a time when most of these institutions were teetering on collapse and they are asking for taxpayers to help sustain them, and when taxpayers find themselves in the difficult position that, if they don't provide help, that the entire system could come down on top of our heads," the president said, "that is the height of irresponsibility. It is shameful."
"There will be time for them to make profits, and there will be time for them to get bonuses. Now is not that time. And that's a message that I intend to send directly to them, I expect Secretary Geithner to send to them," Obama said sternly.
"Secretary Geithner already had to pull back one institution that had gone forward with a multimillion-dollar jet plane purchase at the same time as they're receiving TARP money," Obama said, referring to Citigroup's plans for a $50 million 12-seat luxury jet despite having received $45 billion in Troubled Asset Relief Program (TARP) funds to stabilize the financial sector. "We shouldn't have to do that, because they should know better. And we will continue to send that message loud and clear."
The president said he intends to talk to Wall Street executives in the coming days.
"What we're going to need is for the folks on Wall Street who are asking for help to show some restraint, and show some discipline, and show some sense of responsibility," he said.
Additionally White House Press Secretary Robert Gibbs at his briefing announced that the president would address executive bonuses.
"It was the sixth-largest year of bonuses, and I don't think anybody that's opened their 401(k) statement has found out that this was the sixth best year for Wall Street," Gibbs said. "He'll address that in some more rage ... I will give you the one-word answer that he gave us this morning: outrageous."
That's great!but....the people they speak of...the people we should keep an eye on.
Geithner, the "watchdog" that "forgot" to pay his back taxes, took over $435,000 in severance pay and $100,000 in unused sick and comp pay from the New York fed, while making a measly $415,000 a year. Now, is not the time for that. These are the people Obama speaks of. I question all of them because they have a proven track record.
If they show me responsibility, I definitely will support them.
And the first act of great responsibility would be to NOT pass this nation breaking Non-Stimulus, Stimulus package. I believe that both sides can see that.
I've read Geithner was a bad choice.
Here is how the right puts it, "Geithner, tax cheat, gets $434,688 in severance pay."
They will repeat and repeat and repeat that until it is like a jingle in your head.
He did screw up his taxes. That was dumb. I really don't think there is a conspiracy there. It was just dumb. That screwup didn't pop up until after he was selected. So Obama would have had to axe him for that...
The $434,668 was severance pay after leaving his job at Goldman Sachs to become sec of treasury.
The $100,000 is for sick days and stuff he didn't take.
I heard he took a pay cut coming in, is the least wealthy sec of treasury (after all these guys know money) etc.
Maybe they are all crooks.
But really I was defending the initial post of supposing that Obama was saying that companies shouldn't make a profit, that the Bruggmans of this world shouldn't get bonuses, that Obama is trying to even things out and make sure Spoonbill doesn't get money so Joe Non-worker gets my beer.
What urks me is that no matter what the guy does or says it can be spun against him. He'll get the same old "liberal" tag and Rush will get to have his show and everybody can get mad and it can all stay the same. It *will* stay the same if we let it. And I sometimes think that people want it to because they've chosen sides and have grown their own identity out of a label.
My freaking arms hurt... there won't be too many more of these comment unless I get some pain killers.
Ok...I agree with that. Because, I'm not on either side. And, I do believe they are most all career politicians and crooks. It's fantasy rainbows and unicorns to think they're not. And I will hold Obama accountable for doing right while criticizing what he does wrong... because I can. After all, he represents us. Not the ever growing government.
Also,
The criticizing is non-partisan. Not to defend GW, but he got trashed by the "liberal" media, NPR, AND Rush pretty heavily on the way out.
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