What I want to hear Obama say about the impending mega-bailout:

[cali]

I want to hear him say that the fed should not bail out any financial institution unless the top management is cut loose without any severence package whatsoever.

Yeah, it's small consolation, but it would be one small measure that could be taken.

[Coexist]

1. he already has - read this:

http://www.reuters.com/article/bondsNews/idUSWBT00966920080909

Obama warns on Fannie, Freddie golden parachutes

WASHINGTON (Reuters) - Democratic presidential candidate Barack Obama warned U.S. regulators on Tuesday it would be "a gross violation of the public trust" if they did not use their power to block excessive severance payments to executives leaving Fannie Mae or Freddie Mac.

In a letter to Treasury Secretary Henry Paulson, Illinois Sen. Obama cited news reports that the CEOs of Fannie and Freddie could get millions of dollars in severance pay. He said "under no circumstances" should such payments be allowed.

....

"I urge you immediately to clarify that the agreement with Fannie Mae and Freddie Mac voids any such inappropriate windfall payments," said the letter obtained by Reuters.

Obama said that when Congress gave regulators the power to step in and rescue the companies, it also granted the power to block any severance payments to CEOs.

"It would be a gross violation of the public trust to fail to use this authority now," Obama wrote in the letter.

[OneGrassRoot]

3. Excellent...wish he could enforce going back a couple of years...

and "fining" or retrieving in some legal fashion the multi-million dollar bonuses and severance packages for failed CEOs, whose "leadership" resulted in the loss of thousands of American jobs.

[lapfog_1]

2. I prefer the Chinese solution to bad management.

it would tend to actually deter others.

Well, I'm just kidding... but part of me would like it.

[krkaufman]

4. And I'd like to hear that there will be audits and investigations ...

... and possible prosecutions and lawsuits for criminal mismanagement. If engineers can go to jail for faulty work, so should business executives. They can count themselves lucky that they don't live in China.

[iamahaingttta]

5. And/or... we should nationalize companies the taxpayers bail out.

You want to socialize the risk?
Then we socialize any potential profits.