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September 28, 2008

Exec Pay IS NOT In This Bailout Bill

-- by Dave Johnson

OK, so the bailout bill is out. We have been talk all along that executive pay limits would be in a bailout bill. But it is NOT in the bill.

One of the ways this bailout was made somewhat palatable was that executives of firms bailed out would have their massive paychecks reduced. To me this meant:
1) They wouldn't be going for bailout money unless they really meant it
2) Bailout money wold be used to help pay their massive paychecks.

Instead there is a provision that limits tax deductions on executive pay for the top five executives. As if this means anything.

So with executive pay limits NOT in the bill, when we were told it would be, we need to find out why it this not in the bill, where it went, and why we are being told lies intended to sell us on the bill.

This is the kind of thing that sets us alarm bells for me.

Update - Here is what has happened to the bill, from a right-wing perspective. Interesting. Everything good appears to be out now.

Call your representative and DEMAND that they vote against the bill! It is JUST a handout of all the rest of our money, to rich Wall Street firms.

Posted by Dave Johnson at September 28, 2008 6:06 PM


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