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Hey, at least you’re not being Ken Lewis-ed

Posted on October 22, 2009 at 7:59 am

Reports say the Obama administration is planning to order companies who received billions in bailouts to slash the compensation plans of their top execs – as well as ask permission for just about everything but the sprinkles on their ice cream.

The pay restrictions for all seven companies will require any executive seeking more than $25,000 in special benefits — things such as country club memberships, private planes and company cars — to get permission for those perks from the government.

Oh, and don’t look for any sympathy from Cramer.

Comments

2 Responses to “Hey, at least you’re not being Ken Lewis-ed”

  1. kosh iii writes
    October 23rd, 2009 7:03 am

    Sympathy? They should be happy they still have a job, some of these crooks should be hanging from the end of a rope.

  2. sidney writes
    October 23rd, 2009 3:20 pm

    The pay restrictions for all seven companies will require any executive seeking more than $25,000 in special benefits — things such as country club memberships, private planes and company cars — to get permission for those perks from the government.

    Sounds like O’bama is playing an old childhood game “Mother may I”, but in this case it translates to “Mother-trucker, may I”.

    I don’t want the government to loan or give money to companies to bail them out. That was a big mistake. But an even bigger one is to have the government stick their nose into private industry other than safety and compliance regulations. The gov’ment with it’s chief ruler, O’bama has gone wild! We need a reality show called “gov-ment gone wild”.

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