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Obama Sees McCain's Unrealistic Proposal, Raises

September 24, 2008 4:13 PM

This morning we pointed out that Sen. John McCain's, R-Ariz., proposal, to limit executive compensation for officers of firms that receive federal aid to $400,000, was not regarded on Capitol Hill as a serious proposal.

In terms of limits on executive compensation, all that Sen. Barack Obama, D-Ill., had discussed was preventing any golden parachutes for executives of these firms, which, combined with another relatively modest measure or two, is truly about as much as anyone in the negotiations is talking about.

But then, this afternoon in Florida, Obama offered a questionable proposal of his own.

"The American people should not be spending one dime to reward the same Wall Street CEOs whose greed and irresponsibility got us into this mess," Obama said, according to his prepared remarks.

What on earth does that even mean?

Zero compensation for these executives?

A firewall between the government aid and salaries/bonuses for executives?

The Obama campaign has yet to respond to my inquiry as to what this rhetoric means, policy-wise; I will let you know when and if the Obama campaign responds.

- jpt

September 24, 2008 | Permalink | Share | User Comments (68)

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Obama is the One who will heal our country and undo the years of wrongs by making people truly equal.

McCain can say anything he wants but he and the Republicans are through.

"We are the ones we've been waiting for. We are the change that we seek."
- Barack Obama, Super Tuesday

Posted by: obama ascension | Sep 25, 2008 5:54:19 PM

I am sick to death of you people harping on Hillary and Obama's debates. What you people do not realize is there were 22 debates when Obama turned her down. Obama and McCain has not had any debates and we have less then 40 days left. Don't try to put this mess in Obama's camp. McCain is wrong, he knows it and so do you guys. So quit trying to take up for the man. The man is throwing another Hail Mary pass and only fools will fall for it this time.

Posted by: Cyndeewi | Sep 25, 2008 9:06:02 AM

Using the pretext of helping the poor home owner or homeless: Who are qualified and who are not? Where is the crossing line?

1. The healthy and strong young men going around asking for free money at every joint in the broad daylight while there are plenty of $8-$10 jobs right in front of them? I am tired of them. Not a penny for them anymore.

2.Those who can't afford but buy expensive houses and now waiting for bailout? Living in Washington DC areas, I saw plenty of those greedy people driving flashy cars. Many even bought more than one houses paying interest only. I am supposed to bail them out as they are facing foreclosure??

It makes one puke to read ; "I want to help those who are facing foreclosure."
God, Devil and the liars themselves know that is the truth.

Posted by: Hanna T | Sep 25, 2008 8:18:23 AM

PUMA -

The economy's in meltdown. We're fighting two wars. AQ's resurgent. People are losing their homes. 600,000 people have lost their jobs so far this year. Gas costs $4.00 per gallon.

And you're obsessing about whether or not Senator Obama's really an American?

Posted by: Brooklyn Democrat | Sep 25, 2008 6:51:23 AM

What are they going to do for the Americans who have already lost their homes? Those people living in homeless shelters, tent cities, or who have to start all over again? These people and their children will suffer greatly, the parents credit have been destroyed. Do they get their credit restored like the big banks who prayed on them?? I think the government should go after the CEO's and the SMART people not only take the bonus money, but take the homes,cars,yachets,summer homes, pensions and apply their money to this bailout. And any person knowing this was going on and didn't report it, or tried to mislead the American people about the shape of the economy should also lose everything they have or will have including President Bush. How about that new retirement home he built that should put a dent in this debt he is expecting the American people to pay for through our hard work.

Posted by: Patricia | Sep 25, 2008 3:14:21 AM

Obama may have forgotten but he and McCain are both Senators. They are supposed to be two of our elected and salaried leaders; in fact... it is their *main* responsibility.

Obama keeps saying that McCain should be able to do more than one thing at time. That's *really* funny coming from Obama... a man that has done virtually nothing *but* campaign for a big part of his career and for all of the last 2 years. He may see no need to be involved beyond standing on the sidelines and criticizing but I am damn glad that McCain considers his day job to be more important, at this time, than a few speeches and a debate.

It took both parties to get us in this mess... it's going to take every last one of them to even begin to get us out. Øbama needs to give up the partisan one-upmanship, and yes... the campaigning, for a moment and do his job. What a foreign concept for him.

Posted by: heart.puma | Sep 24, 2008 11:04:16 PM

seems pretty clear to me, Jake, that Obama doesn't want executives walking away with windfall profits / bonues in the millions, as usual, with our tax bailout dollars.

Posted by: candotwothingsatonce | Sep 24, 2008 9:16:55 PM

Those crooks should not get any of our money and if they do we should all have a protest! And McCain wants to give them each $400,000, are you kidding me? No way!

Posted by: Kathy | Sep 24, 2008 7:01:27 PM

Obama is right a president needs to be able to multitask, not do one thing at a time, McCain was just hoping Obama would follow his lead, so he would come out on top, well guess what it didn't work!

Posted by: Kathy | Sep 24, 2008 6:59:56 PM

"Zero compensation" is not really a fair assessment of the situation. If the government doesn't bail them out one nickel, but all these executives are allowed to keep their years of paychecks, then I guess they've been compensated.

Guess what? When real people get fired from real jobs where they do real work, typically they don't get any "compensation" for that (especially when they're fired because they suck at their job and they've cost the company money). If these guys want gov't compensation, I say let them eat unemployment.

Posted by: Mr. Me | Sep 24, 2008 6:50:19 PM

I'm appaled at some of the things people have said here. There are many ignorant and racist people in this country. It is a fact, please deal with it. Each presidential campaign ends up being a popularity contest, not about concrete and substantial facts and issues. IT IS OBVIOUS THAT THE REPUBLICAN LEADERSHIP HAS FAILED THIS COUNTRY. Senator Barack Obama and the democrats have convinced me that they at least have an alternate plan to the reckless approach the current administration has taken. How can anyone in their right mind continue to put a republican in office while we are fighting 2 wars, our young men and women dying, and our economy has crashed
Please wake up and do not be scared of change. Racism has no place in this country. Speak to young americans and you will find out that racism can be overcome

Posted by: cc | Sep 24, 2008 6:41:07 PM

"and exactly how many times did obama back down from hillarys challenge to debate? i lost count."

They had 22 debates.

Hillary needed the debates because she was running her campaign in the red.

McCain refused to debate Huckabee when they were the last two candidates.

Posted by: Ryan C | Sep 24, 2008 5:53:02 PM

On Obama, you have a valid point. What are the constraints?
But everybody seems to be avoiding another obvious point. Ever since my corporate days, I've been hearing that if government were run like a corporation - we'd all be in much better shape. For decades I've been hearing this BS mantra from the John McCain types. Except I worked in the private sector - for the company that automated AIG and I always thought: are you out of your mind? These fools are clueless. So now we have to pay for their cluelessness? Or rather, we have to pay, our kids have to pay and our grandkids have to pay. And to add to it, we are taking another step towards nationalism? As in communism? If it didn't work in the Sovier Union, why in the heck are we trying it here?

Posted by: mara | Sep 24, 2008 5:47:59 PM

"Would it have changed CA in Romney's favor? Probably not but you never know. NH saved McCain, it turned his entire campaign around and the money started flowing."

CA would be tough for any of the GOP candidates except McCain.

I agree on NH & McCain though. While everyone was focused on Hillary after NH McCain rode that momentum to smash Guiliani in FL.

Posted by: Ryan C | Sep 24, 2008 5:46:55 PM

"He needs to man up and do the debate"

This from a supporter of the guy who was too afraid to appear with McCain at Saddleback, and too afraid to have joint town-hall meetings where he couldn't depend on his sycophants in the press.

Obama is afraid to do anything if his knee-breakers aren't around.

Why is this effeminate thug so anti-war anyway? Based on his campaign, you would think he'd have a pink knife in his teeth at every opportunity.

Posted by: notafool | Sep 24, 2008 5:45:28 PM

Thanks Emm!

Posted by: Wade | Sep 24, 2008 5:39:48 PM

THIS IS LEADERSHIP
McCain makes a statement & runs
Obama makes a statement & stays to answer tough questions.
A candidate Obama or president doing more than 1 thing at a time "We got big airplanes"

Posted by: watching | Sep 24, 2008 5:34:23 PM

Actually, I'm sure that it's one of the signs that the rapture is coming. I gotta check my Left Behind books.

She's probably kind of giddy about it.

Posted by: Blip | Sep 24, 2008 5:28:32 PM

Bet Sarah Palin is sorry she accepted now.

Posted by: kris | Sep 24, 2008 5:23:47 PM

The GOP is going to need McCain's vote... they are going to need every vote they can get... to pass a bailout package that is going to be acceptable to their donors.

Posted by: Blip | Sep 24, 2008 5:22:12 PM

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