Close to addressing the banks, Obama goes after financial giants: Have you enjoyed the financial bailout package? Now lay off 90% of your salary.
Obama Fighting Financial Giants
Obama draws the sword: The US president has made a promise to chop down the salaries of leaders of the financial system and now he plans to keep it. In his efforts to revive the American economy, Obama has decided to give financial institutions a financial bailout package consisting of 700- 870 billion dollars according to experts’ estimations. Now he informed the companies which received the financial aid that they will have to cut down the huge bonuses they use to give their senior workers and the same goes for their salaries.
He made this statement prior to the soon-to-be revealment of his financial plan, which will force the bigger seven institutes, who used the most of the aid funds to give up 90% of the salaries of their 25 most senior workers. In addition, Kent Finberg, which was appointed by Obama to be the “pay czar” of the White House, has made plans that include measurements to be taken in the White House, where many senior officials and employees who enjoyed over the years high salaries will also have to give up half of the bonuses and compensations they deserve.
As of lately, he was tangled up with many problems yet to be solved and many hard dilemmas to cope with. As a democratic, liberal president he was elected and is expected to end the wars in Iraq and Afghanistan, but up to now nothing has changed. As a matter of fact, the situation have gotten worse, when everybody was talking about pulling the troops out of Afghanistan- he had to face decisions whether to send another 40,000 troops as requested by Army General Stanley McChrystal which claimed ‘More Troops Or Lose Afghan War‘. It wasn’t a win-lose situation but a situation which no matter what you choose you lose. Not to mention, the delay with finding a solution for a nuclear Iran, nor Guantanamo, nor any progress in the Middle East at all. No major progress was made with the health care legislation and the unemployment issue as well. When taking on a different front, a less frightening one, he also failed and lost the Olympic Games to Rio De Janiero. Don’t forget the worldwide criticism on his Nobel Prize win, with some critics blaming the Nobel Prize committee of being political and only that and some saying he was chosen only because he ain’t Bush. Some say, if all those occurrences were packed into a movie, the best title for it would be “Land of the lost”, imagine that.
Moreover, with the constant rise of the European Union’s power, a possible alliance of China and Japan and the demise of the dollar, which is just isn’t being bought enough, Obama needs this small time victory, it isn’t much but he needs to win at least in this financial war back at home, the US, since he isn’t scoring anywhere else right now.
The CEO Game.
October 27th, 2009 at 3:17 pm
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November 1st, 2009 at 1:44 pm
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