File under AWESOME – McCaskill Proposes Compensation Cap For Private Companies Getting Federal Dollars
Yep, the awesomeness meter just went to eleven. Senator Claire McCaskill (D-Mo) just dropped a bomb on CEO’s and other executives who work for companies asking for or using bailout money. I do not know yet whether I love it, or hate it, because I just got the news via email from a friend, but I can tell you I love Congress actually dropping a bomb like this on the floor. It makes C-SPAN must see t.v.
Here is the rest of the story directly from Senator Claire McCaskill’s website.
Under Bill No Employee Could Make More than President of the United States
Outraged by the latest news stories about corporate luxuries afforded by the very same companies that took public money and assistance in recent economic emergency packages, U.S. Senator Claire McCaskill today took to the senate floor to introduce new legislation that would prevent company executives receiving federal assistance from receiving compensation totaling more than the salary of the President of the United States.
“Going forward if you want taxpayers to help you survive, if you want the people at your financial institution to have a job tomorrow, then you’re going to have to limit everyone’s pay at your company to the same salary that the President of the United States makes,” said McCaskill from the Senate floor. “Now once they’re off the public dole, once the taxpayers aren’t footing the bill, then it’s not as much our business what they get paid. But right now they’re on the hook to us. And they owe us something other than a fancy waste basket and $50 million jet.”
Under Cap Executive Officer Pay Act of 2009, no employee of any private company that accepts federal dollars because of the economic downturn would be able to make more than the President on the United States – approximately $400,000 a year – until the company is no longer reliant on federal dollars. According to the bill, compensation would include salary, bonuses, and stock options.
And here is the video of the Senator on the floor
Keeping up with Congress
There are a lot of people who like to stay in the loop with news and issues going on and being discussed in Washington, DC. If you are one of those people, there are so many very different yet very thorough ways of keeping up to date.
One of my favorites is YouTube . Other than the new global artists’ music videos, you can also get some really impressive information.
Since this is a new year for Congress, I thought it would be great on this Friday to watch a video from the most powerful person in the House of Representatives – Speaker Nancy Pelosi. The video begins with her cats roaming around her office, but the real – nitty gritty – work starts about :34 in. I wouldn’t skip ahead to ignore the kitties, just wait it out.
I’m really amazed at how much effort goes into Congress’ing.
That is some good Congress’ing there Lou : Part 2
Ocala Republican Representative Cliff Stearns asked House Speaker Nancy Pelosi to reschedule votes up for discussion on Thursday evening and Friday so that House members from Oklahoma and Florida could go to the college football National Championship game planned for tonight.
Funny thing, the other representatives to whom he referred as “we” signed the letter, so I guess he just assumed they wanted to go too.
Pelosi’s office said she would not entertain the idea.
So far college football has occupied more Congressional time than I’d prefer to see.
I’d like to think that those we have elected to run the country for us have a few more pressing issues to deal with.
Porn industry Kings want U.S. citizens to bend-over and stimulate them
Well that is not good for the economy, right?
Larry Flynt (the “Hustler” guy) and Joe Francis (the “Girls Gone Wild” dude) are asking the government for a $5 billion bailout, claiming the adult entertainment industry has taken a huge shot to the face because of the downturn — citing the fact that XXX DVD sales are down 22% from a year ago.
“With all this economic misery and people losing all that money, sex is the farthest thing from their mind,” Flynt says. “It’s time for Congress to rejuvenate the sexual appetite of America.”
Of course it’s a publicity stunt, but Joe Francis actually plans on heading to DC — not that he’ll get in the door anywhere. That being said, if we’re talking about avoiding systemic economic risk, the last thing California needs is massive unemployment in the San Fernando Valley.
Just yesterday we wondered how a porn-investing hedge fund could possibly produce 50% returns in this environment. All indications are that the sin business is as dead as any other.
(Source TMZ)
That is some Congress’ing there, Lou
In the spirit of disclosure, I need to admit that I do not really watch college football and the obsession that people have this time of year over it drives me a little nuts. My point is: I don’t get it.
Having said that, I’m pretty up to speed in my current events and I have a good idea of what’s going on in the world, especially here, domestically. I think that’s why I damn near crapped myself when I saw a headline saying that a Congressman from Texas was introducing legislation forcing a playoff in the college football championship issue.
Rep. Joe Barton (R) from an area of Texas south of Dallas planned to introduce legislation covering this issue because: “In some years the sport’s national championship winner was left unsettled, and at least one school was left out of the many millions of dollars in revenue that accompany the title,” Barton said in a statement released ahead of the bill’s introduction. “Despite repeated efforts to improve the system, the controversy rages on.”
Well let it rage on! So do our unemployment rates, foreclosure rates and bankruptcy rates.
Yep, thats the most important item that needed his attention. What else does Rep. Barton have going on? Well, he is also the ranking Republican on House Energy and Commerce Committee. So he probably has already solved the energy crisis and looks like commerce is once again settled.
Does anyone else think that maybe a few other items on the agenda should have taken a little higher priority in today’s world? So the way the best team in college football is determined may be a little screwed up, so what!? Can our Congress please focus on issues like health care, unemployment, and other immediate issues that really affect the masses? Yes, ok, people care about college football, but its not a shared priority about which I want my elected officials using valuable floor time during a Congressional session debating the merits of playoff logistics. It’s hard enough to get this group to stay in Washington to work out the important stuff.
Leave football to the schools to figure out.
Give the coat tails a break for now
I get a lot of spam each day and I usually mass delete them all. But this one caught my eye: “From: Obama for America <info@barackobama.com>” Subject: “Your Victory T-shirt”. I’m all for a free t-shirt, I’ve got freebies in my closet from trade shows, gym promotions, 5k runs, and pro sporting events. I rarely wear any of them, but they’re free and you never know when you’ll need that bright orange shirt with a slight entrendre referencing a penetrated network.
I don't have any more CHANGE to give
But my Victory t-shirt wasn’t going to be free. I actually really didn’t think it would be FREEfree, I thought it might require a survey plus shipping fees or whatever. But I was wrong:
But before we take the next step, we need to get our house in order.
The Democratic National Committee poured all of its resources into building our successful 50-state field program. And they played a crucial role in helping Barack win in unlikely states like North Carolina and Indiana. We even picked up an electoral vote in Nebraska.
The DNC took on considerable debt to make this happen.
Make a donation of $30 or more now to help the DNC pay for these efforts, and you’ll get a commemorative 2008 Victory T-shirt.
…As we start laying the groundwork for real change, we need to help the DNC recover the resources it took to win. Please make a donation today and get your 2008 Victory T-shirt
Really? Is NOW the best time to begin that fund raising endeavor again? Have we not just been BOMBARDED with daily spam trying to get money from us for random campaign resources? It was not even a full week since the election and they decided it was appropriate to ask for more money.
It’s like you’d tell a teenager, if you’ve already spent your allowance, you’re not getting any more from me until next time.
I’m a Democrat and I’m thrilled with the newly elected Democrats for Congress and other positions, but please do not brag about the fruit of your efforts and then ask for more money to pay for them so soon. Why don’t we wait to make sure those newbies actually produce results, then you’ll have proof positive that the efforts paid off to get the right people in office and it will be easier to get people to come off with some money.
In today’s economy please don’t try to bleed me dry without showing me results. If these new members get the right things done, then I’ll see that the DNC’s efforts were worthwhile and worthy of financial help. Remember, it’s not like Congress’ approval rating was sky high before the election, so they don’t really have a good track record on which to base their request for more money….YET.
I have high hopes for this new government and truly believe that they can accomplish great things, but can we please wait at least a few months before asking for money to pay back the organization that got them elected?
Do you know what the number one cause of death for pregnant women is?
The Right to bear arms
You’re going to get a TON of hate mail from the 2nd Amendment enthusiasts, but I agree with the earlier post to an extent. The framers of the Constitution surely had no foresight into automatic weapons, hollow-tips and other advancements that have been developed since people were afraid the federal government would impose a gun ban, then force the people to submit to its will by using the army against its own people as they were when the Bill of Rights was created.
Perhaps rather than a gun library system, we just need members of Congress to have bigger balls and stand up to say there is no earthly reason any civilian would need any type of automatic weapon.
Gun owners want the right to protect themselves, but honestly I’m more leery of someone who feels he/she needs to carry a gun for safety. I was in an discussion just the other day with someone who thinks he needs to carry a concealed weapon to feel safe. Safety from what/whom? Do you live that dangerous of a life that you need a deadly weapon strapped to you to feel better? I don’t want you around me or my family if you think you’re under that much of a threat, because I don’t trust you.
I feel safe with the law enforcement personnel having weapons. They are (generally) trained well on how to use them, and most importantly WHEN to use them. I don’t want to get caught up in a shoot out at the mall with a gun-happy accountant because he ‘thought’ he saw something threatening. Even if he DID see something threatening, I damn sure don’t want him drawing his gun around me or my family and miss and make the situation that much worse.
If you’re protecting your home with a gun, you don’t need an automatic one. If you feel that you need ‘bigger and better’ than what an anticipated burglar would have, you’re battling a win less war. Guns for hunting is one thing, guns for insecure accountants is another. And next time I’m in the bar, I don’t want to have to worry about the stressed out frazzled stock broker who’s having a really bad week deciding he doesn’t want to hear the joke about the horse one more damn time and pulling out his Glock to make his point.
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