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Fed's impose pay cut's for the big governmenet loan borrowers……what does that mean?

I’m just going to list some things I’ve read about these so called cut’s………..

1) The cuts cover the highest paid employees at each of seven heavily federally aided companies – Citigroup, Bank of America, AIG, GM, GMAC, Chrysler and Chrysler Financial……….

2) These moves where know to be coming for weeks…..

3)  The moves are from the Federal Reserve and Treasury Department……..

4) The moves are permanent. ..giving the federal government (and the states will follow) broad powers to look at the banking industry…. (actually, since both levels of the government issues the banks charters…they always had the power…but will now actually use it)……

5) The cap will be $500,000 in salary and $25,000 in special perks (like private clubs, and private aircraft travel)…over those limits the government gets a say…

6) A lot of these people will still collect a lot of money because the cut’s cover just November and December, and aren’t retroactive on money already received…..

7) Kenneth Feinberg, the guy running the Treasury special comp program (the same guy who handled the WTC, settlement fund pay out of over a billion dollars) reviewed 136 employees from the effected companies………

8 ) Feinberg has asked that ‘all’ companies report their top earners to the Fed  and Treasury…..voluntarily….

9) Feinberg still does not decide how much someone makes…the boards still do..he decides how it is paid….

10) With #9 in mind…companies have already moved to change compensation to salary and stocks…and of course…pay the government back it borrowed money…so that they will be out of the comp review program……

11) Bankers hate the whole thing….Complaining that high risk takers spoiled it for the rest of the industry……..(they’re right)

12) Most of the firms effected by the comp review program haven’t had mass employee losses…..which is why I’m sure the government didn’t go for the jugular…. just the jaw bone………

13) Government = US Treasury Department……

14) US Treasury Department official’s serve at the pleasure of the President of the United States…….nuff said…….

15) Link……Link…………

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October 22, 2009 Posted by | Politics, The Economy | , , , , , , , , , , , | 2 Comments

Fed’s impose pay cut’s for the big governmenet loan borrowers……what does that mean?

I’m just going to list some things I’ve read about these so called cut’s………..

1) The cuts cover the highest paid employees at each of seven heavily federally aided companies – Citigroup, Bank of America, AIG, GM, GMAC, Chrysler and Chrysler Financial……….

2) These moves where know to be coming for weeks…..

3)  The moves are from the Federal Reserve and Treasury Department……..

4) The moves are permanent. ..giving the federal government (and the states will follow) broad powers to look at the banking industry…. (actually, since both levels of the government issues the banks charters…they always had the power…but will now actually use it)……

5) The cap will be $500,000 in salary and $25,000 in special perks (like private clubs, and private aircraft travel)…over those limits the government gets a say…

6) A lot of these people will still collect a lot of money because the cut’s cover just November and December, and aren’t retroactive on money already received…..

7) Kenneth Feinberg, the guy running the Treasury special comp program (the same guy who handled the WTC, settlement fund pay out of over a billion dollars) reviewed 136 employees from the effected companies………

8 ) Feinberg has asked that ‘all’ companies report their top earners to the Fed  and Treasury…..voluntarily….

9) Feinberg still does not decide how much someone makes…the boards still do..he decides how it is paid….

10) With #9 in mind…companies have already moved to change compensation to salary and stocks…and of course…pay the government back it borrowed money…so that they will be out of the comp review program……

11) Bankers hate the whole thing….Complaining that high risk takers spoiled it for the rest of the industry……..(they’re right)

12) Most of the firms effected by the comp review program haven’t had mass employee losses…..which is why I’m sure the government didn’t go for the jugular…. just the jaw bone………

13) Government = US Treasury Department……

14) US Treasury Department official’s serve at the pleasure of the President of the United States…….nuff said…….

15) Link……Link…………

October 22, 2009 Posted by | Politics, The Economy | , , , , , , , , , , , | 2 Comments

Atlanta may be on the verge of electing a white, female Mayor…….

Yes…you read that right……Atlanta, Georgia…in the good ole USA………

Atlanta has had black Mayor since Maynard Jackson won election for the job in 1973……Atlanta, the location of  racial tensions during the Civil Rights Movement in the 60’s, has had tremendous growth in the last two decades…but that growth has had the effect of decreasing the once broad black majority from around 66.8 percent in 1990 to about  54 percent in 2005……while there are large area’s of affluent blacks in the city……the economic success of the city has drawn in more Latinos, Asians and whites , driving down the black population.

The city had serious problems with corruption during the tenure of Bill Campbell ( he was convicted of tax evasion for accepting gambling income while in office) from 1994 to 2001……That corruption has left a bad taste in the mouth of residents of the city…….

The voters of the city now have three candidates running for Mayor…and one them is Mary Norwood,  an Atlanta councilwoman, who happens to be white…….

The race to succeed Shirley Franklin, who won the office after Campbell left, is split between Norwood and two other black candidates, Lisa Borders (City Council President ) and Kasim Reed (a former state legislator )…….

Of course there is a racial undertone in all of this but, Norwood seems to be in position to win the election, outright, or have a run off…..(since she IS popular and the other two will split the black vote presumably)…..and with that things will mark a big change for the city that boasts a large middle  and upper class black population……..there is also the fact that blacks are asking themselves why would we just vote for the black candidate when we have seen what Campbell has done?

In the end …on November the 3rd…the voters in Atlanta will have to decide if they will stay with ‘their own’ or move to join the cities rising non black population in voting for someone who represents ‘change’….something the majority of its residents voted overwhelmingly for last November in their new President……

October 22, 2009 Posted by | Politics, The Economy | , , , , , , , | 4 Comments

Kim and Kandi make up…….

It was quick….then they went shopping….did you hear Kim….Size 10?… and she don’t want no one ‘in her business’ about her engagment……I feel sorry for Kandi though,  who got her mother’s ok on AJ………

October 22, 2009 Posted by | Entertainment, Media | , , | Leave a comment

President Obama looking good for 2012……..

A new Public Policy Polling poll must make the White House political people happy……..3 years out, and the presdient polls positive against all known big name GOP  contenders………add the fact that Obama will be able to remind voters that handled the economy, the AFPAK war, Healthcare, and just plain getting along with other  countries, and things are rolling along pretty good…….

October 22, 2009 Posted by | Breaking News, Politics | , , , , , , , | Leave a comment

Sen. Al Franken is NO joke…..

This is him chewing on Diana Furchtgott-Roth, a Senior Fellow at the conservative Hudson Institute, claimed that that moving towards a European-style system of universal health care would increase bankruptcies…..he ran her over, embarrassing……and he gets my vote anytime……

October 22, 2009 Posted by | Healthcare, Politics | , , | 4 Comments

Is the Pope opening a door for more Catholic Priests to be married?

With the announcement from Pope Benedict XVI,  that the Catholic Church would help Anglicans, who are uncomfortable with their female priests and gay bishops, join a new Anglican rite within the Catholic Church, the Vatican seems to be cracking open the door, very small…..To the idea that through the back door the church may again welcome married priests………thus changing its doctrine on celibacy…….

With the announcement extended to married priests……there is a quiet wonder if this Pope…or the next one, would want to take the next step for the church itself which is keenly aware of the sacrifice that is expected of his son’s, and the cost it is to males, who might consider that sacrifice……Since the church already grants exceptions to Anglican priests to become Catholic priest’s, and also Orthodox one’s also ( only small amounts, on case by case basis)…..

The whole issue plays out as a part of the Pope, and the Vactican moves to united more the different groups around the world into a single group with the Pope having more influence……for the moves to ocurr, the Vactican is going to have to be more flexiable and compomising…..were have we herad that speech before?

October 22, 2009 Posted by | Politics, Religion | , , , , | Leave a comment

Google and Facebook jump into iTunes business…………..

In the next week or so…..Google and Facebook are going to join Apple ‘s business of offering music seraches to the net for a small fee…the wildly popular iTunes business is gonna get  more crowded…..both Google and Facebook hope that its users will no longer move from them to click on to iTunes, to find songs….thus giving them more market share in that segment of the business……..Both companies hope that by signing with streaming businesses…. they won’t have to pay the costs that direct link contracts would incur…..Facebook also wants to work the credit card angle of the deal……The both site’s will actually send you to a streaming site to give you the your song……

October 22, 2009 Posted by | Entertainment, Media | , , , , , , | Leave a comment

Poland gets a visist from Biden and assurances on the 'new' missile shield…..

Poland, one of  the United States newest and strongest allies got a recent visit from Vice President Joe Biden…..Biden brought a gift along with him (he’s going to the Czech’s next)…..the US basing of the ‘new’ scaled down missile shield that will consist of shorter ranged variant of the current Aegis ship based system…….please note…there is no current land based system…Raytheon, the unit’s manufacture, will be getting a green light to move the system off ships to land…..it seems that the Israeli’s will get the system first……

Of course these visit’s (after the Russian’s were placated with the original announcements with the flourishes) are VERY important,  in that the both countries are always going to be looking over their shoulder’s at the big guy to the east…..Russia….and they are ever mindful of the Georgian ‘incursion’….Any deployment of land based systems will probably come with US Army troops, who will be the owners and operators of the equipment….and their insurance value to the Poles and Czech’s, against the Russian…..

Notice people….. That everyone specking for the United States suddenly forgot the how to use the word ‘shield’?

……nuff said………

October 22, 2009 Posted by | Military, Politics | , , , , , , , , , , | 1 Comment

Poland gets a visist from Biden and assurances on the ‘new’ missile shield…..

Poland, one of  the United States newest and strongest allies got a recent visit from Vice President Joe Biden…..Biden brought a gift along with him (he’s going to the Czech’s next)…..the US basing of the ‘new’ scaled down missile shield that will consist of shorter ranged variant of the current Aegis ship based system…….please note…there is no current land based system…Raytheon, the unit’s manufacture, will be getting a green light to move the system off ships to land…..it seems that the Israeli’s will get the system first……

Of course these visit’s (after the Russian’s were placated with the original announcements with the flourishes) are VERY important,  in that the both countries are always going to be looking over their shoulder’s at the big guy to the east…..Russia….and they are ever mindful of the Georgian ‘incursion’….Any deployment of land based systems will probably come with US Army troops, who will be the owners and operators of the equipment….and their insurance value to the Poles and Czech’s, against the Russian…..

Notice people….. That everyone specking for the United States suddenly forgot the how to use the word ‘shield’?

……nuff said………

October 22, 2009 Posted by | Military, Politics | , , , , , , , , , , | 1 Comment