Flashback - February 2009 - Republicans Oppose Any Caps On Exec Comp - Hypocrisy Exposed!

[Median Democrat]

I know many Republicans are acting with shock and indignation at the payment of bonuses on contracts that were signed last year. However, just last month, Senate Minority Leader Mitch McConnell was opposing ANY limit on executive compensation with comments echoing the GOP's socialism attacks. Oddly, the MSM makes no mention of McConnell's opposition to any caps, let alone caps on a going forward basis.

/snip

Boehner V. McConnell on Executive Compensation
February 04, 2009 11:54 AM

On Monday, Senate Minority Leader Mitch McConnell, R-Ky., suggested he doesn't like the idea of limiting executive compensation.

"What you have to do, it strikes me, is have some kind of parameters that don't have the government basically running the private business," McConnell said, according to ABC News' Jonathan Karl. "It is a tough challenge. I think we are all appalled by these -- some of these executive salary arrangements and bonus arrangements and perks and all the rest. On the other hand, I really don't want the government to take over these businesses and start telling them everything about what they can do. Then you truly have nationalized the business. So it is a delicate dance to try to prevent blatant abuses and still not have the government as a result of taking an equity position in the government telling them, for example, you can't pay dividends or you can't -- I mean, things that are just ordinary business practices. We have to resist the temptation to basically dictate to these businesses how to run every aspect of their operation.”

On the other hand, this morning House Minority Leader John Boehner, R-Ohio, sounded quite amenable to the idea.

"I think if anybody is looking to the taxpayer to help bail their company out, these kinds of executive compensation limits are appropriate," Boehner said, per ABC News' Dean Norland.

Asked a reporter, do you think $500,000 is the appropriate cap?

"I think somebody's got to pick a number," Boehner said. "The president has picked one. I applaud him for doing it."

-- jpt

/snip

[FrenchieCat]

1. We must not Flashback!

Not healthy for Mob Outrage and forced propaganda about what's important to us.

Didn't you get your memo? :shrug:



This is the only thing we need to see and hear!

[Median Democrat]

2. More Republican Hypocrisy Exposed! 2/09 - Republicans Opposing Caps - Government Intervention Bad!

The amazing thing about the media/Republican driven outrage is that Republicans were opposed to ANY caps on executive compensation. Now, they are acting as though they were for such pay caps all along. What happened to the heated cries of socialism?

http://www.huffingtonpost.com/2009/02/06/gop-opposes-pay-limits-on_n_164544.html

/snip

Other Republicans disagreed. "It's still government running business," Inhofe said.

"It's a leap, because the executive at the bank is a free agent who can leave the bank and go to work someplace else," said Sen. Bob Bennett (R-UT) of the welfare comparison. "You run the risk of having a brain drain at the bank of their top talent."

Bennett said, "Some of the things some of these bank executives have been doing demonstrates they have a tin ear. At the same time, I'm generally troubled by wage and price control, no matter how logical it may appear."

The objection to the government intervention in salaries is rooted in the Republican belief that government is inherently ineffective. "If Congress can run a financial institution, it belies everything I've seen in this body. Government does not do a good job running private institutions," said Sen. Kit Bond (R-MO).

Sen. Tom Coburn (R-OK) agreed: "If we do such a good job of running the federal government, what business do we have telling them how to run the banks?"

The GOP is also concerned that setting compensation limits could put the country on the road to serfdom. "This is just a symptom of what happens when the government intervenes and we start controlling all aspects of the economy. This is just the first piece," said Sen. Jim DeMint (R-SC). "If you accept the fact that the government should be setting pay scales in America, then it's hard not to go after these exorbitant salaries. But I think it's a sad day in America when the government starts setting pay, no matter how outlandish they are."

"What are we going to do next?" wondered Martinez. "Tell a company if they get TARP money where there offices should be? They should be renting maybe from an abandoned federal building?"

Minority Leader Mitch McConnell (R-KY) and and Sen. John McCain (R-AZ) may have had the savviest responses to the tricky political question. McConnell didn't acknowledge that he'd been asked the query; he walked on to the Senate floor instead of answering. McCain declined to comment.

/snip

[blm]

3. No kidding - the hypocrisy is enough to choke an elephant, but, does corpmedia notice?

.

[Median Democrat]

4. Most Republicans Were Opposing Any Caps, Yet They Complain the Loudest About The Bonuses

I guess if John McCain can take credit for a bill expanding benefits to veterans, which he opposed, why not have Republicans complaining about the payment of bonuses when they opposed any caps to executive compensation.