Network News

X My Profile
View More Activity

Obama vs. the powerful forces

By Ben Pershing
In his 2000 campaign, Al Gore famously railed against "powerful forces and powerful interests [that] stand in your way." President Obama may not be quite the populist Gore was, but his administration's current frontal assaults on Wall Street and the health-insurance industry make clear that Obama sees similar political value in an "us vs. them" argument.

The Obama administration's "pay czar," Kenneth Feinberg, is earning his own pay, putting out word that he will cut the compensation packages of "25 of the most highly paid executives at each of five major financial companies and two automakers," the Washington Post writes. The broad politics of this issue appear to be in the White House's favor. (On CNN Thursday morning, the story began: "It's payback time for fatcats.") Team Obama believes the new rules will send a message to firms that taking the bailout money means they need to change their culture. Critics argue that the pay cuts will have the perverse effect of making the weakest financial firms even weaker, as the most-qualified Wall Street executives will flee for more successful companies that won't be operating under any salary restrictions.

The Wall Street Journal reports, "An executive at one of the seven companies under Mr. Feinberg's authority said the terms came as a shock, especially because they changed so suddenly. The compensation restrictions 'were clearly much worse than what had been anticipated.'" Politico says the administration "is making a frontal assault on Wall Street's gold-plated compensation culture at a time of growing public anger over the firms' massive pay and bonuses," and notes that the decision comes just as the White House is pushing back against industry lobbying on the regulatory reform package currently moving through Congress.

Continue reading at Political Browser »

By Ben Pershing  |  October 22, 2009; 8:28 AM ET
Categories:  The Rundown  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: What President Obama told the crowd in Hackensack
Next: Obama signs law ending budget delays for veterans care

Comments

These are tough times for the entire country. Yes, to those for whom the government and taxpayer dollars saved.. there must be some changes. The president must respond to the "collective" needs of the nation. And must do what it takes to get that done. http://www.youtube.com/watch?v=9ywLNEPR8ac

Posted by: Victoria5 | October 24, 2009 12:11 PM | Report abuse

Obama's complaint about his opponent is not that they are wrong it is that they base the opinions on facts that they create. Everyone is entitled to their own opinion but not there own facts. That is the point of contention with his adversaries.

Posted by: Gator-ron | October 22, 2009 8:07 PM | Report abuse

"The bondholders and stockholders received nothing in this political bailout and the unions received a lot"

yeah, they received a 30% wage cut and loss of half of their retirement benefits.

why do the ignorant like you even attempt tofollow politics?

go watch TV

Posted by: tru-indy | October 22, 2009 8:04 PM | Report abuse

his numbers are down, progressives are wavering on him, so he's acting like he cares.

new day, same ole sh!t

Posted by: tru-indy | October 22, 2009 7:58 PM | Report abuse

"Powerful Forces" Silently Assault Domestic "Enemies" with Classified Microwave/Laser Weapons -- An American Slow Genocide Hiding in Plain Sight

COVERT USE OF MICROWAVE/LASER RADIATION 'DIRECTED ENERGY WEAPONS' ON U.S. CITIZENS...

...WHEN WILL TEAM OBAMA TAKE DOWN THE BUSH-CHENEY GESTAPO?

Thousands of unjustly targeted Americans are being damaged by the devastating physiological effects of being silently irradiated by microwave and laser radiation "directed energy weapons"...

...the weaponization of the electromagnetic spectrum, a silent "final solution" that may have the nation's political leadership in its ideological cross-hairs.

This technology is capable of altering moods, emotions, inducing fatigue, weakness, exhaustion, confusion, life-altering injury, disease and a slow-kill death.

And key elements of the Obama administration -- chief among them the defense/security/intel establishment -- are proliferating these technologies by various modalities, reported to include terrestrial and satellite electromagnetic microwave/laser emission -- in one iteration, disguised as cell towers.

American citizens and families targeted by this covert torture matrix also are subject to financial sabotage that decimates their livelihoods and financial resources...

...and relentless "community stalking" -- harassment, surreptitious home entries and vandalism by government-enabled vigilantes affiliated with federally-funded community policing and anti-terrorism organizations.

Warrantless, covert placement of GPS tracking devices and misuse of cell phone technology to hunt down the unjustly targeted enables this grassroots terrorism.

But the Obama administration continues to allow these warrantless intrusions into the lives of unjustly targeted American families.

By its naivete -- its unquestioning rubber-stamp approval of the deployment of these destructive technologies and programs -- the Obama administration risks presiding over the destruction of democracy, the rule of law, and personal liberty.

PRESIDENT OBAMA, CONGRESS:

BAN the use of microwave/laser directed energy weapons on U.S. citizens or any human being as cruel and unusual and a crime against humanity.

BAN the warrantless tracking of individuals with GPS devices on cellphones -- the electronic backbone of an American Gestapo now operating on YOUR watch.

The bureaucratic saboteurs and Dr. Strangeloves behind these multi-agency crimes against humanity and the Constitution must be removed from power, immediately, before this silent genocide claims more victims -- endangering the Obama presidency while making a mockery of the rule of law.

http://nowpublic.com/world/gestapo-usa-govt-funded-vigilante-network-terrorizes-america

OR (if link is corrupted/disabled):

http://NowPublic.com/scrivener RE: "GESTAPO USA"

Posted by: scrivener50 | October 22, 2009 10:05 AM | Report abuse

I have no problem with limiting the compensation at th entities receiving government bailout money.

I also believe that the "Pay Czar" should also limit the pay and benefits of the union leaders at the automobile companies. They helped caused the problems they face and they should suffer the consequences.

The bondholders and stockholders received nothing in this political bailout and the unions received a lot. Everyone should pay a price.

Posted by: mwhoke | October 22, 2009 9:02 AM | Report abuse

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company