| Obama sets executive pay limits for US companies! | |
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| Feb 5, 2009 01:06 |   |
 | On Wednesday, Obama made a new order to set a $500,000 annual pay limit for those top executives who work at those bail-out companies. This policy are welcomed by the public. However, the Wall Street seems to be unhappy about this policy. A source reveals that the annual payments for those middle level managers on the Wall Street is between 800,000 to 1,500,000 dollars. And those senior managers even can get more than 10 million dollars. If those executives earn 500,000 dollars, how about those ordinary workers?  What are your comments? |
| Feb 7, 2009 19:16 | #1 |
| >>A source reveals that the annual payments for those middle level managers on the Wall Street is between 800,000 to 1,500,000 dollars.<< As an Chinese economist point out, those financial market "elite" have no idea on what the motherland is, which means they can shape the the whole system to work for their pockets even at the expense of their own country (USA). If necessary, government power should reach financial institutions. |
| Feb 8, 2009 08:52 | #2 |
| For the last thirty years China has been driving itself from a socialist market mentality in to a capitalist one, and “gosh”, it has worked. Today we can witness it all around china. Obama wants to take the “western world” to the socialist market that the Chinese rejected some thirty years ago. |
| Feb 8, 2009 17:41 | #3 |
| The person who charges FedReserves even cannot catch up with continuously created finacial deravatives which penetrated in realeste, capital market, insurance industry, comsumption market without a particular committee that is supposed to do risk assesments and exercise supervision. There should have been specialists in financial market in Congress and Cabenit who monitor the activity in financial market and adjuest and regulate market behavior. However, there are specialists in gov. like Mr. Paulson, etc. He and guys in Wall Street earn the bonus this year as high as that in back to 2004 when the economy is bull. I heard the news who reported the current general public life in USA that is pretty bad and some extreme report (but it's true) make you tear. |
| Feb 8, 2009 23:22 | #4 |
| Marrie....as has been stated before....nothing but a "ponzi scheme" on a global scale. |
| Feb 10, 2009 08:53 | #5 |
| To Marrie, (((I heard the news who reported the current general public life in USA that is pretty bad and some extreme report (but it's true) make you tear. ))) If not wrong, I was under the impression that you are a Canadian Resident, just across the border from USA. Canada has been a capitalist country as USA and dependent mainly on USA for exports and green backs: your statements have the fingerprints of the old Soviet Union propaganda all over. As I have read times over on the Chinese news, Chinese people are told that American people are sucked in to an African type of poverty and misery. Chinese President Ho was in America just a few months ago; many Chinese expatriates’ come up to see him proudly waving Chinese red flags. If people in America are in so much miserable state, I think Mr. Ho got the opportunity of a life time to bring back home to China millions of overseas hunger Chinese from USA and advance the hunger suffering theory among the USA population around China. Unfortunately not a single American Chinese solicited the help or Mr. Ho, after all Mr. Ho was traveling on a 747 capable of carrying up to 450 persons at the time. Marrie, is this the situation in Canada? Quote, (((make you tear.))) Please save those tears for my funeral, if hunger strikes me “that is”. I assure you at least one crocodile tear if you die first; after all, winter has been brutal this time around in Canada. JCnile. |
| Feb 11, 2009 19:55 | #6 |
| JC, to tell you the truth, I was not qualified to be a CPC member according to stupid 'entry qualifications'! what I am doing is not ecomomic sensative and the older the better type of job although it's no good pay, I really thank God for this offer in current difficult times. Thinking of the news saying that a jobless man committed suicide after killing all his family members, compared to the jobless folks and the folks kicked out by corp after 20 years sevice with wiped off corp pensions, persons with human feelings will show sympaty and even tear. Although US is highly pushy and competitive society, the theory that the poor is to be eliminated and the the fittest is to survive should not be 100% applied in human society where survial competition itself more or less is inherent unfairness because of human nature defects. What i am trying to say that US should enhance supervision and regulatory system in the financial market after this lesson. |
| Feb 20, 2009 03:19 | #7 |
| A leader of a Chinse enterprise says that he will only receieve 1 yuan annual payment. May other CEOs should learn from this guy. Better not require payment, hehe. |
| Feb 21, 2009 18:00 | #8 |
| I would appreciate Obama for taking this step becasue reducing pay packet is a better option than to eliminate posts. The formula is chalked out only for the high rank executives who are getting high packages not for the low income employees. Advisor travel.justluxe |
Last edited by SHUBH: Feb 21, 2009 18:02 |
| Feb 23, 2009 03:53 | #9 |
| Would this policy cause great losses of high ranked executives? It is said that Chinese government went to Wall Street to hire those "financial geniuses". If Obama reduces their payment too seriously, many of them will come to China. I believe that this is not what Obama wants to see. |
| Feb 25, 2009 19:19 | #10 |
| Quote:Originally Posted by YVONNE Would this policy cause great losses of high ranked executives? It is said that Chinese government went to Wall Street to hire those "financial geniuses". If Obama reduces their payment too seriously, many of them will come to China. I believe that this is not what Obama wants to see.YVONNE, as per stats here, a job hunting agent serve 25 laid-off executive level officer per week here. And i heard there was a job fair initiated by shanghai muni gov for recruiting 'financial geniuses' in Wall Street but most of traders were from derivative areas and did not meet the needs from China. |
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