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Are you glad you took the money now?
Written By : TrogloPundit

In “Goodfellas,” the mob movie that won Joe Pesci an Oscar, the restaurant owner found out what it means to take the money.

Not money, exactly – he took protection. He asked the mob boss to become a silent partner, in order to protect him from other mobsters – like Joe Pesci – who were treating him like dirt.

It worked, but it didn’t. He didn’t get bullied in his own place anymore. The mobsters paid their tabs. But the mob boss used the place as a front for black marketeering. Ran it into the ground. Then, when it was all used up, he had it burned down for the insurance money.

The mob got a foot in the door. That was all they needed.

Away from the movies, now. Back to the real world:

NEW YORK — The Obama administration plans to order companies that have received exceptionally large amounts of bailout money from the government to slash compensation for their highest-paid executives by about half on average, according to people familiar with the long-awaited decision.

The cuts will affect 25 of the most highly paid executives at each of five major financial companies and two automakers, according to the sources, who spoke on the condition of anonymity because the plan has not been made public.

Side note: can we know who the sources are now that they’ve made the plan public?

The administration will also curtail many corporate perks, including the use of corporate jets for personal travel, chauffeured drivers and country club fee reimbursement, people familiar with the matter have said. Individual perks worth more than $25,000 have received particular scrutiny.

In making the ruling, the administration’s “pay czar,” Kenneth R. Feinberg, will be inserting the government as never before into pay decisions traditionally made in corporate boardrooms. His decree, which is expected to be announced by the Treasury Department on Thursday, will culminate a months-long review prompted by public outrage over outsize paydays at failing companies saved with taxpayer money.

The banks and other companies took the money for a good reason: to protect them (and, they claimed, the economy) from the financial crisis. They let the government – a government led by hard-left wannabe socialists – get a foot in the door.

That’s all they need.

(The TrogloPundit, a.k.a. The TrogFather, blogs here)

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  • Bildo

    "…a government led by hard-left wannabe socialists – get a foot in the door."

    What do you mean "wannabe"?

    .

  • Jack Schite

    Absolutely. Should have let those companies and the entire economy to collapse just to teach everyone a lesson, depression style.

  • D-Vega

    The banks and other companies took the money for a good reason: to protect them (and, they claimed, the economy) from the financial crisis. They let the government ? a government led by hard-left wannabe socialists ? get a foot in the door.

    Calling George W. Bush a hard-left wannabe socialist is a little harsh, no?

    Considering all this happened in 2008.

  • http://PatriotPost.US bthewolf

    Absolutely. Should have let those companies and the entire economy to collapse just to teach everyone a lesson, depression style.

    Posted by Jack Schite

    2009-10-24 16:42:44

    Yeah because there was SO much chance of that!!! Too big to fail, is not good economic sense, let them fail let the market clean it up.

  • http://troglopundit.wordpress.com/2009/10/24/today-over-at-right-wing-news/ Today over at Right Wing News « The TrogloPundit

    [...] Are you glad you took the money now? [...]

  • tblrk2006

    Yeah because there was SO much chance of that!!! Too big to fail, is not good economic sense, let them fail let the market clean it up.

    Posted by bthewolf

    2009-10-24 17:05:50

    But but but that would mean obama couldnt capitolize on the crisis and secure some votes in the future. Oh he has broken the law big time. Obama will spend time in jail for this crap.

  • libliever

    "Obama will spend time in jail for this crap."

    LOL!

    And a bunch of other politicians too!!

  • santacruz2009

    Looks like someone watched Glen Beck yesterday. Or is it mobster movie day.

    Glen plays a bunch of The Untouchables clips.

    TrogloPundit gived us the plot from Goodfellas.

    Who will use Casino?

    At least you are picking good movies.

  • aharris

    Wow! Our troll quotient has gone up.

  • http://networdblog.blogspot.com/ Christopher_Taylor

    Yeah I made the same comparison a few weeks ago. The actual script quote is pretty good although its a bit rough in language. Basically you should trust the government with your liberty as much as you'd trust any other group of criminals and thugs. Any government, Democrat or Republican.

    There's a reason the Founding Fathers tried so very hard to limit government and expand liberty. And we sell that out every new election a little more. Remember: the government strong enough to give you things is strong enough to take them away.

  • tblrk2006

    And a bunch of other politicians too!!

    Posted by libliever

    2009-10-24 19:26:07

    i wouldnt be too smug…..they've all got "D" in front of their names. Ouch.

  • http://TheNixonTape.Blogspot.Com Dick_Nixon

    Considering all this happened in 2008.

    Posted by D-Vega

    2009-10-24 16:56:06

    Yeah, we should thank the Pelosi-Reid team, since Congress controls the purse strings in our GOvernment.

  • http://networdblog.blogspot.com/ Christopher_Taylor

    President Bush spent half the TARP funds, President Obama spent the other half. While it is my opinion (based on the mood of people I know and things said at rallies) that the Tea Party movement started with President Bush signing the TARP bill, it just didn't get really riled up until the "stimulus" package, there is a difference here.

    President Bush never tried to take over banks, never told executives what they could earn, and never tried to impose socialism on the financial industry. He didn't even give GE TARP funds despite their having only a very slight, small, and tenuous connection to banking (then exempt them from the Pay Czar's executive income cap). President Obama did.

    Thus: the main thesis of the article above.

  • NorthernCanuck

    GM is exempt from the income cap? Any reasons given?

  • libliever

    Posted by tblrk2006

    2009-10-25 10:03:50

    And how can I possibly take you seriously when you say "Obama will spend time in jail…"

    Posted by Christopher_Taylor

    2009-10-25 11:02:53

    "President Bush never tried to take over banks, never told executives what they could earn, and never tried to impose socialism on the financial industry…"

    Well, I'm sure he would have gotten up to speed but from the reports that I read he didn't even know what the hell was going on in the first place!

    It had to be explained to him repeatedly before he made the TARP move and he even said that he regretted foisting this mess on the next administration.

    He didn't sound the alarm.

    He didn't put Congress's feet to the fire.

    The Bush WH was literally asleep at the switch.

  • http://TheNixonTape.Blogspot.Com Dick_Nixon

    He didn't put Congress's feet to the fire.

    Just ignore Bush's attempts to reform FNMA, blocked by Barney Frank, who said FNMA was strong and needed no help.

  • http://networdblog.blogspot.com/ Christopher_Taylor

    GM is exempt from the income cap? Any reasons given?

    None given, but since the CEO of GM is a huge Obama supporter and donor you can guess why.

    Actually the Bush administration tried to fix the problem before it exploded. He called on congress fifty times to address the Fannie/Frankie Mae and financing mess, and fifty times he was ignored. He wasn't a hapless boob no matter how desperately you on the left want to portray him as such. You just don't get to that level of power as a moron.

  • libliever

    "You just don't get to that level of power as a moron."

    Look, we can go back and forth ad infinitum on this.

    Fannie Mae sure but he did not know the extent of the fiscal morass that Wall Street was in and he even admitted to that fact.

  • http://networdblog.blogspot.com/ Christopher_Taylor

    Lib: nobody did. No one. Blaming the president for that is like blaming you for not knowing the last powerball winning number. What's he supposed to do, be a prophet? Nobody knew and you're acting like the president being in that set of "no one" makes him an imbecile who is culpable. Irrational, much?

  • gfchicago

    "He didn't sound the alarm.

    He didn't put Congress's feet to the fire.

    The Bush WH was literally asleep at the switch."

    Posted by libliever

    2009-10-25 19:20:18

    He did sound the alarm, him and McCain. Barney Franks, Maxine Waters, Chris Dodd and a whole host of others said there was no problem.

    Just how in the hell would President Bush be able to hold a Democrat held majority in congress be able to hold their feet to the fire?

  • Trooper_John_Smith

    Go to You Tube and you can watch Bwanny Fwank, et el on the Left spouting ad nauseum about the strengths of Fannie Mae / Freddie Mac. You can even hear the wisdon of Maxine Waters and a Republican telling Franklin Rains that his cooking the books to make his bonus would be considered illegal in the business world!

    Of course, Bwanny Fwank was porking one of the executives at Fannie Mae, so one could say Bwanny was in a better, errrrr… position, to know about these things.

    With a non-ideological Fourth Estate on the job, these people would have been driven into hiding by the electorate by now.

  • CoolCzech

    Meanwhile, it's been widely reported – in the non-mainstream, non-state-controlled, media – that Obama has already spent at much time playing golf as Bush did his entire 8 years in office.

    WOW. What a simply BRILIANT man Barry must be, so find the time to ruin the economy, betray Eastern Europe, humiliate the United States all over the globe, push Cuban-style healthcare, threaten Carbon Tax Blight on your children's imimpoverished future, persecute the people protecting us from terrorists, spend an 24 minutes speaking with General McChrystal, AND get in 8 years of golf in a mere 9 months!

    Dare I mention how OUTRAGED, Outraged!, I say, the Left was that Bush DARED to play golf?

  • http://troglopundit.wordpress.com/2009/10/27/the-source-wished-to-remain-anonymous/ The source wished to remain anonymous until such time as the story went to print, after which the sensitive information the source provided was no longer secret (having been published in the paper) and, thus, there was no reason to remain anonymous any lo

    [...] would have made it any better) slashing executives’ salaries – a couple of times. Here. And [...]

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