The Obama administration has tasked Mr. Feinberg with more closely tying compensation to long-term performance, something the White House believes will help prevent employees from taking unnecessary risks for short-term gains. A government official said shifting some salary away from cash and into stock will help achieve those goals.
This is a formula for financial disaster!!
It is code for: "We're going to force the banks to NOT loan money to small and medium businesses nor to new homeowners. We're also going to take away all incentive for all employees to performing thier job tasks at a level above and beyond the normal "job description". Customer service levels will drop!! Overall bank performance and efficiencies will drop.
If the government continues to intrude into the private sector, exerting its power over the decision makers, expect those companies to fail miserably. The President, his Czar, nor this government should NOT be meddling in private businesses.
At the automakers ... with continued intrusion over time ... expect to see NO new product lines or improvement to existing auto/truck lines as there is no incentive to innovation... In fact, there would be a DIS-incentive to take risks in innovation.
Here's my prediction for the future of the companies that the government is fucking with: AIG, BofA, and the rest of the lot will start to perform poorly, business will drop as the public pulls thier money and business away going to other competitors who are not government backed. The Czars yell, "They need more help cause we can't allow them to fail"... The government then pours MORE money into those failing companies.. and the cycle continues. Gov't pouring OUR tax dollars ...hand over fist ... into bad business who they have hog-tied into failure and doom.
Given the current path ... I bet this will all happen while Obama is still in office.
If what I've laid out above is a "mystery" to you and you don't quite grasp the concept... Go read "Atlas Shrugged" by Ayn Rand. That will give you a primer on what Obama is driving this country to.
There has been NO society in the history of man that has taxed its way into prosperity.
Re: what do you think is right?
Member #: 35888
Registered: 2/1/2005
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