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January 30th, 2009
08:10 AM ET

Crackdown on CEO bonuses

Anderson Cooper talks with his panel about President Obama's plans to possibly crackdown on CEO Bonuses.

soundoff (21 Responses)
  1. Shelly DeLeon

    When will these corporate criminals be tried and sent to prison? The powers that be sure had a field day with Martha Stewart!!!!! What's taking so long to deal with these greedy bastards?

    If the government actually has to waste time to send rules to these idiots about the right and the wrong way to spend their FREE MONEY, we are in a scarrier position than anyone would like to admit.

    Anderson Cooper, please keep 'em honest.

    Signed
    Home in Forclosure

    February 2, 2009 at 12:24 am |
  2. charlie young abingdon va

    well when obama was running i wanted change,well don't believe we are going to get nothing first of all he has to stop the bonuses and no more money to the banks,we are not getting no where and the money they took for bonuses need to be took back.every place i have ever worked if you don't do your job or do it badly well the only thing you get is fired.it time to replace the ones who who think if you do a bad job you get a reward.put them out.there are so many smarter people that have lost their job to replace all of the ones that let the banks fail.move on put them out and that would be change.start with a fresh bunch.

    February 1, 2009 at 5:46 pm |
  3. Kamran

    I own a small business in California and I have a $100K line of credit from Wells Fargo. I have very seldom used the line in the past five years.

    Yesterday I received a notice from Wells Fargo that my line has been reduced to $25K. I have great credit and have never been late on any bills. Needless to say I will call them tomorrow and cancel the line and move my accounts to another bank.

    Now a small business which hasn't used the line of credit and might need it in these economic times loses the line while taxes paid from people like me who have a successful business is paying for these banks to be bailed out. I find this to be absolutely absurd!!!

    February 1, 2009 at 11:15 am |
  4. C.L. Mareydt

    ... it still looks like politics as usual ... what has really changed?

    January 31, 2009 at 6:45 pm |
  5. Pat

    With all the bailout money being given to the banking industry, why aren't politicians insisting these same banks lower interest rates to existing credit card customers and mortgage holders to allow people to pay off their debt? If the banking industry would meet us halfway, everyone wins. Joe the Plumber gets out of debt and will eventually be able to spend again. Everyone knows the banking industries increase them without notice. Why isn’t someone considering this approach?

    January 31, 2009 at 3:37 pm |
  6. Rodney Roberts

    These greedy should be held accountable for all this money and all taxpayer funding to these companys should be withdrawn NOW. Likwise also anything in the stimulas package that has nothing to do with stimulating the economy should be pulled from this insane bill that way it can be truthfully called a stimulus bill and not a pork bill for special intrest groups and lobbiest bill.

    January 31, 2009 at 11:19 am |
  7. BOB NY

    I think its time the american people take the bull by the horn 1st quit putting money into the 401 k if its possible quit your job and pay the fine for early withdrawl belive me we the people will suffer doing this but at the same time we will take the money away from the stock market this will in time force them to do things diffrent we the people can go back to the old barder system to hell with the wall street and the goverment back President Obama 100% rather wall street or the goverment want to admit it we the people run the US not them at the rate we are going we will be on the barder system one way or the other we need to stop being sheep and and stand behind our President we the people can back him in turn the goverment will follow

    January 31, 2009 at 7:39 am |
  8. Martina Ilstad Germany

    Thats what i miss here in German from our Politics or Journalist, telling straight ahead to their poeple.That are the facts.The bankers did a bad job and the are shamefull.That President Obame shows his pers. felling,makes him more truthful,because he shows what American or German or anybody else is feeling.

    January 31, 2009 at 6:37 am |
  9. Mike, Zephyrhills, FL

    Its not only Wall Street, its Corporate America !!

    CEO's for example, Steve Fishman, of Big Lots, he makes a 1million a yr salary, but after options and bonuses he makes 9 million.

    Thats $4024 dollars an Hour, while he employees makes on ave $7.50 an hr, and can not get benefits, nor full time, no stock, nothing, juts a small weekly check and they still want you to do more everyday.

    Fishmans, car allowance and his benefits coem to more than $50,000 a yr, more than any store mgr makes.

    Wal-marts around $13,000 an hr, on and on!!

    This is wrong!!! This is the reform and stimulus we need, make it fair again. We will work , but it has to be fair!!

    January 30, 2009 at 7:57 pm |
  10. John Neumann

    You can't stop CEOs in the bloodsucking world of finance. It seems no matter what is tried they always manage to find loopholes.

    But consider this – If my simple math is correct 1 billion dollars is equal to 1 million million dollars.

    If that is correce, sonsider that there about what? 300 million Americans?

    I the government wants to help ALL americans and not just those who have already sucked billions from the middle to low income citizens they should give every adult american 1 million tax free dollars. Total cost about 300 billion as opposed trillion plus now being discussed.

    That would stimulate the hell out of the economy. People would buy homes, cars, electronics, invest, etc., etc., etc.

    The bloodsuckers would be crippled, temporarily, as there would be no need for people to obtain credie for a short period of time. However, I think they would pay off their current debt. The need for credit would return in a couple of years and, hopefully, the financial industry would return some sanity to their lending practices. The twenty and 30 percent rates they currently charge those least able to afford it should be forever eleminated from their lending procedures.

    January 30, 2009 at 5:50 pm |
  11. Marie Porter

    Yes, talk is cheap.What President Obama has done for America is more than our past President done in eight years.If the people from the other countries sees that you guys are fighting against your own president, what do you think goes in their mind.You guys are our own terrorist.President Obama earned his degree by being intellectual not by his name.

    January 30, 2009 at 1:43 pm |
  12. Marie Porter

    I love you David Gergen. Thank You President Obama! Let those greedy folks know how you feel.They knock on our doors for our tax payer funds, they better have their act right.NO MORE RETREATS< NO MORE JETSCompanies don't give out bonuses when they are failing.

    January 30, 2009 at 1:40 pm |
  13. peter shaw

    ...i believe that the us gov. should go after every single dollar those baffoons took from that stimulous package.....( to pay all the bonus's) ..we know who got the checks...we know the banks names...and phone numbers....we know who is greedy....... and put everyone of their ass's in jail...CEO's for 5 years ... and anyone who excepted that bonus should go to jail for 2 years...granted our great country has over come many obstacles in it's short exsistence....but having greed csucker's devour our country's economic health is the ultimate sin...... do they want our country to go under?? how do they think...with that stamford/harvard ph.d? how?

    January 30, 2009 at 1:24 pm |
  14. Bev, Town of Tonawanda, NY

    President Obama should make these CEOs and their cronies give back their bonus money. That's the only way it will stop. They've been doing it for years because they could – they got away with it. Just talking about it isn't going to stop them. Hit them where they live – in THEIR wallets.

    January 30, 2009 at 1:04 pm |
  15. GF, Los Angeles

    I can't believe the CEO's still gave themselves BILLIONS in bonus' last year through the taxpayer bailout that Bush gave them. I'm glad Obama is aware and I truly hope he pursues these CEO's to give the money back to where it was intended for – to keep their company afloat.

    January 30, 2009 at 11:58 am |
  16. Steve Sumler

    When reporting on the Wall Street bonus fiasco's, could you PLEASE start naming names and how much they received. We need to hold the individuals feet to the fire. They deserve constant scrutiny and humiliation. Awhile back you ran the series of the "10 Most Wanted". I think this needs to be a daily report. These people are incapable of feeling shame, nor do they have the slightest concern about the economic recovery. They have enough money, even if they never made another dime, to live very comfortably the rest of their lives. Please put names and numbers into your reports.

    January 30, 2009 at 11:28 am |
  17. meenas17

    Obama is to be commended for the bonus crack down. Expecting bonus from a failing company. Atrocious. Do the CEO's have any ethics?

    January 30, 2009 at 11:24 am |
  18. Michael "C" Lorton, Virginia

    Corporate greed has no boundaries; no remorse and is void of morality. The corporate weasels, as they pass the hen house, will always say, good moring--nice day-isn't it.

    January 30, 2009 at 11:19 am |
  19. Bill

    Waiting here, we are, for Obama's Bailout Bonus Recovery Tax Act of 2009 - a 100% tax on any 2008 bonus received from a Wall Street financial firm getting federal TARP funds.

    January 30, 2009 at 11:11 am |
  20. James, Connecticut

    White House should site such examples (please follow the link below) that Public Enterprise can deliver when put to task.

    Please follow the link below:
    http://www.courant.com/news/opinion/editorials/hc-furlough.art.artjan30,0,1503190.story

    The Private sector which is totally out of control. These CEOs should be exposed and dealt with. They are taking the whole country down not to mention the plight of ordinary people. They are modern day pirates period.

    January 30, 2009 at 11:08 am |
  21. Katy

    CNN / Brown, Lou Dobb, AC et all, please keep following up and on President Obama's back until he takes action. Talk is cheap/ action is gold.

    Yes, I am angry because my hard earned 401K & saving of 34 years almost gone and keep shrinking, yet I have to pay tax to bail them out. My children & grandchildren have to pay the debts. Will they have comfortable life like those crook CEO & Congress & Senators, NO. My salary was frozen for 4 years and no bonuses. Why those people who destroy the country still get bonuses? only stupid government allow it happen. If they get American money, they must follow American regulations, not theirs.

    I don't support tax cut and big spending. President Obama, please remove the tax cut , only wealthy get benefit, not people like me, from the crook Repb. Remove porks from the package as you promise and keep your promise.

    January 30, 2009 at 10:55 am |