Did you actually read the article? provisions were included in the bill but
the last minute change by the White House, effectively negated the provisions made to moniter how it was spent. We could blame the Treasury
Dept., but the change was made as requested from Bush.
Executive Pay Limits May Prove Toothless
Loophole in Bailout Provision Leaves Enforcement in Doubt
By Amit R. Paley
Washington Post Staff Writer
Monday, December 15, 2008; Page A01
Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that break the rules.
But at the last minute, the Bush administration insisted on a one-sentence change to the provision, congressional aides said. The change stipulated that the penalty would apply only to firms that received bailout funds by selling troubled assets to the government in an auction, which was the way the Treasury Department had said it planned to use the money.
Now, however, the small change looks more like a giant loophole, according to lawmakers and legal experts. In a reversal, the Bush administration has not used auctions for any of the $335 billion committed so far from the rescue package, nor does it plan to use them in the future. Lawmakers and legal experts say the change has effectively repealed the only enforcement mechanism in the law dealing with lavish pay for top executives.
I've Been Boo'd
I've been Frosted
Today is the oldest you've ever been, and the youngest you'll ever be again.
Eleanor Roosevelt
Congress coud have refused the change, leaving the admnistration to try again.
The Executive CANNOT force Congress to write legislation.
Sounds like some people on the hill need to grow a spine. If the really wanted o get something done with oversight they should have found a compromise, built a veto-proof majority, and rammed the bill down the President's throat.
The one eyed man in the kingdom of the blind wasn't king, he was stoned for seeing light.
Like that would ever be a possibility with a majority of Republicans in
the current Senate. The fact that this is happining right in the middle of
Holiday leave time for Congress is not lost on anybody.
If GWB were any kind of a real leader, he would have lead the way in
getting the economy back on track with sensible legislation instead of
sniping from the sidelines. Bush can't wait to kick this problem down the
road & let others clean things up.
I've Been Boo'd
I've been Frosted
Today is the oldest you've ever been, and the youngest you'll ever be again.
Eleanor Roosevelt
Majority of republicans?
The dems have had the majority in the Senate since the last elections.
The one eyed man in the kingdom of the blind wasn't king, he was stoned for seeing light.
Maybe Im being a tad cynical but Im seeing the House and Senate setting the President up for failure and failing, and Im seeing the President manipulating the House and Senate into failing. Or is it the other way around?
Either way Shrub has gotten what he has wanted time after time even with a Dem majority in the Congresional branch.
My brother is a Cook County resident, and a democrat, I wouldnt be suprised if he threw some shoes at Blago.
Liz, Liz, Liz....NOTHING is GW's fault. It is always the fault of Congress for not making him do the right thing...(hmmmm like a nanny?)
So if Congress needs a spine, I guess Bush needs a brain...or at least a conscience!
Horse manure, ES.
The one eyed man in the kingdom of the blind wasn't king, he was stoned for seeing light.
Back to the barnyard LH?
Nah, no quite. The manure pile is outside the paddock.
The one eyed man in the kingdom of the blind wasn't king, he was stoned for seeing light.
Gov. Blagojevich made an appointment for Obama's senate seat this afternoon, Roland Burris. He is a former Illinois attorney general and comptroller. The afternoon news is saying that he won't be approved by the Senate democratic caucus. I wish they would just look at whether or not the appointee is qualified rather than who is doing the appointing.
Praying for peace in the Middle East, Ukraine, and around the world.
I've been Boo'd ... right off the stage!
Aaahh, I have been defrosted! Thank you, Bonny and Asiel!
Brrrr, I've been Frosted! Thank you, Asiel and Pomtzu!
"That's the power of kittens (and puppies too, of course): They can reduce us to quivering masses of Jell-O in about two seconds flat and make us like it. Good thing they don't have opposable thumbs or they'd surely have taken over the world by now." -- Paul Lukas
"We consume our tomorrows fretting about our yesterdays." -- Persius, first century Roman poet
Cassie's Catster page: http://www.catster.com/cats/448678
At this point, how can you separate who is doing the appointing from the appointee? If you look at the makeup of the Senate, qualifications are pretty much a moot point.
The one eyed man in the kingdom of the blind wasn't king, he was stoned for seeing light.
That seems to be the problem from what they are saying on the news today. Anyone Blago picks, no matter how qualified, is going to have their appointment tainted by him. But he isn't inclined to resign, and the governor does get to make the appointment, so I don't know how this will be worked out. The African-American Democratic leaders in Chicago are saying the replacement should also be someone African-American.
Praying for peace in the Middle East, Ukraine, and around the world.
I've been Boo'd ... right off the stage!
Aaahh, I have been defrosted! Thank you, Bonny and Asiel!
Brrrr, I've been Frosted! Thank you, Asiel and Pomtzu!
"That's the power of kittens (and puppies too, of course): They can reduce us to quivering masses of Jell-O in about two seconds flat and make us like it. Good thing they don't have opposable thumbs or they'd surely have taken over the world by now." -- Paul Lukas
"We consume our tomorrows fretting about our yesterdays." -- Persius, first century Roman poet
Cassie's Catster page: http://www.catster.com/cats/448678
Guess what? Blago was actually down in Springfield today, swearing in the Illinois senate. I saw a little clip of it on the evening news, and it was strange to watch him trying to conduct state business like nothing is wrong.
http://www.cbc.ca/cp/world/090113/w011387A.html
Praying for peace in the Middle East, Ukraine, and around the world.
I've been Boo'd ... right off the stage!
Aaahh, I have been defrosted! Thank you, Bonny and Asiel!
Brrrr, I've been Frosted! Thank you, Asiel and Pomtzu!
"That's the power of kittens (and puppies too, of course): They can reduce us to quivering masses of Jell-O in about two seconds flat and make us like it. Good thing they don't have opposable thumbs or they'd surely have taken over the world by now." -- Paul Lukas
"We consume our tomorrows fretting about our yesterdays." -- Persius, first century Roman poet
Cassie's Catster page: http://www.catster.com/cats/448678
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