Is This Fair? Fed Slashes Salaries Of Executives That Took Federal Funds

Yes!

wow $42,000 a month probably $35-$37,000 after taxes A MONTH......it must be nice

Well if you have to go on to life support because of your leadership then I tend to agree you have to pay the price.

I think they call that accountability.

are you kidding?? HELL TO THE YEAH it is fair!! how much do those douchebags get paid? FOR WHAT??? bankrupting the industry so we had to bail them out?

cut their pay and make them live in tents for all I care.

It does suck that our American Government is stepping all over businesses and telling them what they can and cant do. It is the antithesis of everything America, freedom, capitalism, and our constitution stands for.

However..........

Sucky as that may be, these companies made a deal with the Devil. You get in bed with snakes, you are going to get bitten. They took money from the government to get bailed out, all bets are off.

Now these companies are on display for everyone to see what happens to you, and what the very meaning of selling your soul to the Devil really means.

My own opinion is that they would have been just as well off to NOT take the bail outs last year and just filed for bankruptcy to begin with. It still happened anyway even after we tax payers tossed billions into the rabbit hole.

At least had they done that a year ago instead of the bailouts, they would have come out of BK just the same but we tax payers would not have been on the hook, the government would have nothing to say about who does what, which cars get approved for production, and what people get paid.

This is what happens when you make a deal with the Devil. It sucks, but that is how it is.

it appears that you believe the money handed to GM and Chrysler disappeared with the bankruptcy... this isn't true, they are still spending it...

They had something like $160billion in debt before bankruptcy the loans wouldn't have covered it. The creditors got screwed when bankruptcy set it. All on hand assets were transferred to the new GM upon bankruptcy, this includes land buildings and cash.

but don't feel bad for the creditors... they pay insurance for that...

You should check Bill Ford's comments in the NYT today. Although Ford didn't take bailouts, he thinks that had GM and Chrysler gone bankrupt in December, it would have been a catastrophe.

GM has agreed to follow the same compensation guidelines. Guess they saw the writing on the wall.

What if that is the same person that started organized and executed a $5billion program? What would be his incentive to do that over owning a small machine shop where one can easily make $500k.

this is true about money meaning less. Ones happiness is not based on how much money you have, it's how much money you have in comparison to your colleagues. If you're the richest person you know with $100 you're probably as happy as the millionaire that doesn't venture out into the high end social clubs.

It's absolutely fair, if these were solvent companies that were making a profit on their own, they could pay their execs billion dollar bonuses for all I care. Reward them for their good work. These people did a horrible job essentially running their respective companies into the ground for a quick buck. They are lucky they have jobs at all. If YOU did a completely horrible job for your company would YOU still be working there?

none of these businesses even matter anymore. go after goldman sachs!

I don't know why you are all excited about. They are still getting bonuses so whatever they are not getting as part of their salaries they will be getting them as bonuses. Put a cap on the bonus then we are getting somewhere.

your comments?? haven't they been racist and homophobic in the past?