Word: pays
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...homeowner and found it staggering that just the mortgage-interest and property-tax deductions amount to $96 billion per year. The elimination of those two deductions alone would virtually pay for health-care reform. I recall the fear expressed when the removal of interest deductions for auto loans and credit cards was first discussed. The bottom did not fall out of those sectors. Nor will it fall out of the housing market...
...since mid-September, in part resulting from grim forecasts by Wall Street analysts. "She said her CEOs were really up in arms," DeParle said. For her part, Ignagni denies that she ever told the White House not to expect a report, and says she never discussed taxes on CEO pay with any officials. She said DeParle raised the issue of Wall Street analysts. "I had two people that were with me," Ignagni added as corroboration. "They...
...plate dinners--I'd go get three half-smokes with mustard and raw onions, thank you very much. One day, my driver returned with the same amount of money I had given him. He told me Ben and his wife Virginia (below) had refused to let him pay. They told him, "Bill Cosby eats for free." I tried again the next time I was in town, but Virginia recognized my order and again refused to take my money. After Barack Obama visited earlier this year, a sign went up: BILL COSBY AND PRESIDENT OBAMA ARE THE ONLY PEOPLE...
...Obama administration’s move to slash the pay of many top executives at the seven firms that have still not paid off their bailout loans is an understandable attempt to create a sense of accountability for corporate executives. It is a bold policy move that attempts to send the message that irresponsible behavior should not and will not be rewarded with massive compensation...
However, the policy is ultimately little more than a symbolic gesture and a Band-Aid fix to a problem that is in dire need of a suture. Simply cutting the pay of executives does little to address the systemic problems that helped give rise to the financial crisis. The Obama administration now has a unique opportunity to capitalize on populist discontent with policies that correct the lax regulatory regime that helped enable the financial meltdown. Real change to the current system, which incentivizes unnecessary risk-taking and corporate irresponsibility, cannot be replaced with simply cutting executive pay. The recent cuts...