Bailout Rules

There should be some new requirements to be eligible for a government bailout loan.

1. Before a company receives a dime the entire senior management team takes a 60% cut in pay.
2. The CEO takes an 80% cut in pay, and forfeits any bonuses or golden parachutes until the loan is paid back in full.
3. Long as money is owed to the taxpayers, The CEO will forfeit 95% of his or her pay, and senior management 80% of theirs before the company is allowed to lay off a single employee.

They're going to give our danged money away, they should make the terms fair.

Feel free to forward this on to Mitch McConnell if you agree. I would, but I'm out of time.

[QUOTE=Devils Horse;344548]There should be some new requirements to be eligible for a government bailout loan.

1. Before a company receives a dime the entire senior management team takes a 60% cut in pay.
2. The CEO takes an 80% cut in pay, and forfeits any bonuses or golden parachutes until the loan is paid back in full.
3. Long as money is owed to the taxpayers, The CEO will forfeit 95% of his or her pay, and senior management 80% of theirs before the company is allowed to lay off a single employee.

They're going to give our danged money away, they should make the terms fair.

Feel free to forward this on to Mitch McConnell if you agree. I would, but I'm out of time.[/QUOTE]

Not only that but any Mortgages that are rewritten due to falling house prices, should have some rules.

Namely......ANY house that is written is partially OWNED by the government. Meaning all the value between the ORIGINAL Note and the written down NOTE belongs to the taxpayer.

WE ALL KNOW these houses were probably valued right, as property generally always gains value. With that in mind, I can see someone with a 250k house, getting the mortgage rewritten as a 200k house.........A year later, or so, after the housing market rebounds, the homeowner sells the house for 260k, making a 60k profit and SCREWING the taxpayers out of 50k..

ALL gains made from the sell of the house up to the ORIGINAL note belong to the taxpayer.......if you don't agree, then FORECLOSE on the SOB and let me buy it at auction for fair market value :)

Later,

Geo

I agree but good luck with that, lol.

I think you also need to add: if the company defaults on their loan the CEO is fired and has no severance package.

Andrew

Makes me sick to my stomach to think of all the people who took loans out to but Houses that were above their means of income level. Now that the cost is unafordable, they are now looking for the Gubment to bail them out and screw the Tax payers out of their money.... These people should not have been approved for the loans in the first place. I hold the Finance Company's, Banks and whoever else financed these loans more to blame... If a person can't reasonably afford the purchase their wanting to make...Then by goodness have a set of gonads and turn them down...Save yourselves the headaches and everyone else who will be involved in re-possing the house when it is foreclosed on.....

Same thing for vehicles... To many welfare caddies on the streets as an example of what I'm talking about....:(

[QUOTE=apb;344602]I think you also need to add: if the company defaults on their loan the CEO is fired and has no severance package.

Andrew[/QUOTE]

Amen brother.