Congress Wants to End Citigroup's Deal with the Mets - destined to fail

[tomterp]

Congress is now looking at capping pay for employees at firms that recieved bailouts at 400k per year. Hope it passes, it will definately be an attorney employment act for employees with contracts - has congress ever heard of the takings clause?

the whole thing is a fiasco.  How can congress make the investment, then retroactively impose terms and conditions that were not previously agreed upon?  I'm no fan of a lot of these corporate practices, but this smacks of management by lynch mob.

[HalfSmokes]

the whole thing is a fiasco.  How can congress make the investment, then retroactively impose terms and conditions that were not previously agreed upon?  I'm no fan of a lot of these corporate practices, but this smacks of management by lynch mob.

my guess is the fine print allows them to alter the terms, I personally love it since most of these companies like to change terms on their customers on a regular basis

[tomterp]

my guess is the fine print allows them to alter the terms, I personally love it since most of these companies like to change terms on their customers on a regular basis

Companies need clarity into what they can and cannot do, and right now it's just a big clusterF in congress.  Make the rules clear and get out of the way.

[HalfSmokes]

Companies need clarity into what they can and cannot do, and right now it's just a big clusterF in congress.  Make the rules clear and get out of the way.

I have no sympathy at all- they have already allowed their own shareholders to be totally wiped out and yet they still want to be paid well? Apparently fiduciary duty is a loose concept for bankers; they should have offered their resignations when they accepted TARP money.

[The Chief]

I agree, tar and feather the whole lot of 'em

[tomterp]

I have no sympathy at all- they have already allowed their own shareholders to be totally wiped out and yet they still want to be paid well? Apparently fiduciary duty is a loose concept for bankers; they should have offered their resignations when they accepted TARP money.

It's not a matter of conferring sympathy, but rather moving forward on the best path to ensure their survival, and ability to function as pieces of the economy.  That was the whole point of the bailouts, remember? 

[blue911]

The $20M per season for naming rights wouldn't buy 7 ads for this years Super Bowl.

[shoeshineboy]

The $20M per season for naming rights wouldn't buy 7 ads for this years Super Bowl.

But it may be enough to cover the Nats payroll.