Seven companies that received bailout money will have their top 25 executives pay cut by about 90% on average.

The treasury Department will announce this in the next few days, according to Yahoo! Finance.

The companies are Bank by America, Citi, AIG, Government Motors, GMAC, Chrysler and Chrysler Financial.

Read–Yahoo!

I told you this would happen…

UPDATE:  CNBC is reporting that the overall pay–including benefits, bonuses, and crap will drop about 50%.

Also, check this out:

“And at all of the companies, any executive seeking more than $25,000 in special perks — such as country club memberships, private planes, limousines or company issued cars — will have to apply to the government for permission.”

I told you.

I goddamn told you!

This is corporate fascism at its finest, ladies and gentlemen.

Kenneth Feinberg is running the show.

Read–CNBC

Folks, while this is a big victory, we still must keep a watchful eye.

Barack Obama has said the healthcare bill does not require a public option for his approval.  Obama’s senior advisor David Axelrod said,

“It’s time to synthesize and harmonize these strands and get this done. We’re confident that we can do that. But obviously it is a different phase. We’re going to approach it in a different way. The president is going to be very active.”

The Politico reports, “‘We have been saying all along that the most important part of this debate is not the public option, but rather ensuring choice and competition,” an aide said. “There are lots of different ways to get there.’”

Now, folks, they may not have a public option now, but if we let up, they will slowly bring about a fascist, socialized health care system.

Read–Politico

Folks, the fight seems to be working.  Yahoo! News is reporting that Barack Obama and the Democrats may, in fact, drop the “government run” heath insurance option in favor of a co-op system run by the members.

Read

The “Un-American” activities are working.  The people do not want government run healthcare coverage.  It is plain and simple, ladies and gentlemen.

And not only is it not wanted, according to Kathleen Sebelius, it isn’t necessary.

Bloomberg is reporting, “What’s important is choice and competition,” Sebelius said today on CNN’s “State of the Union.”  The public option itself “is not the essential element.”

Than for what purpose did they try and Rahm it down our throats?

Kent Conrad said, “There are not the votes in the Senate for the public option, there never have been.  To continue to chase that rabbit, I think, is just a wasted effort.”

Read

And, more importantly, you did not have the support of the people.

Check out the Article on Hot Air.

UPDATE: August 17, 2009:

Sorry, according to the White House, Kathleen Sebelius “misspoke.”

Linda Douglass Agrees with the first White House spokesperson, saying, “Nothing has changed.”

However, a third has broken from the ranks…

No one misspoke about the issue, “The media just misplayed it.”

Read

Check out Hot Air’s article…

In just under six months of Barack Obama’s presidency, the nation has undergone a dramatic–although not totally unexpected–shift in opinion and approval of Barry O and nowhere is this shift better evidenced than in the depictions of the man in artwork.

In a little over six months artists have gone from depicting Barack Obama like this:

to this: (after the jump) Continue Reading

Folks, this video includes Barack Obama saying he is for a “single payer system.”  He also says that the government run “public option” will eliminate private insurance.  The video also shows Jan Schakowsky bragging about tearing down the health insurance system–you may remember my post on that earlier this year…

Watch the explosive video here:

Click here to read all my posts on health care.

UPDATE:  August 4, 2009:

The White House goes to the web to attack the Drudge Report.

Apparently the above video just cherry picked certain statements…but its pretty damning that he said that it will eliminate private insurance…

They’re in damage control here, folks.

Also, I think it is wrong that they are attacking the Drudge Report…calling it “misinformation.”

Oh, and, Happy Birthday, Barry!

Yes, folks.  According to Yahoo News, Tim Geithner wants to impose new guidelines for publicly traded companies to better match pay with long-term performance.

He said that he does not want to put caps on the pay…but that sounds like what they’re going to do…but just call it something else.

What gets me about this is how they support unions and a minimum wage…in short, not being paid by your performance, while wanting that for executives…

Developing…

Read

Folks, what exactly is a “Special Master for Compensation?”

Well, ladies and gentlemen, it is a new czar to oversee executive pay…

That means that if you are a CEO, and you got TARP money, you now have a new guy in HR signing the checks…and the checks just got smaller…

Say hello to your new HR representative: Kenneth Feinberg.

The Wall Street Journal reports that early next week Kenneth Feinberg will become the new HR Czar.

Now, in this report, there is a sentence I find frightening…

“Firms likely won’t be able to appeal decisions that Mr. Feinberg makes to Mr. Geithner, according to people familiar with the matter.”

And don’t say I didn’t tell you so…

Never in a million years would I have thought that an elected official would be glad to bankrupt a private industry…

“I am so confident in the superiority of a public healthcare option, that I think he [the insurance] company has every reason to be frightened.”

Also, never in a million years would I have thought that people would actually cheer when told that the government, in a display of their might, would destroy a private industry.

And yes, this is the same Jan Schakowsky that called the tea parties Shameful.

Yup.  He said that.  On his one hundredth day, he said, “We’ve begun the work of remaking America.”

Yeah…Remaking it into a nationalized socialist republic…

Ousting a company’s CEO, becoming majority owner of the same company, spending us into the ground…

Attempting to nationalize healthcare…

Nationalizing banks…

Nationalizing car companies…

Read

Probably not, if the government gets its way…

But Matt, what do you mean?  Doesn’t the government want all that money back?

Absolutely not.  And here’s why…

As long as the banks have government money, the government has a say in their operations.

According to the Financial Times, “Strong banks will be allowed to repay bail-out funds they received from the US government but only if such a move passes a test to determine whether it is in the national economic interest…”

Obama: “I’m not going to simply put taxpayer money into a black hole.”

Folks, Obama and the Feds won’t let them repay the money because they want to control the markets.

And, just as I am writing this, this came up on the Drudge Report:

NYT: FEDS MAY CONVERT BANK BAILOUTS TO EQUITY SHARE...

Back door to nationalization? Government could become largest shareholder in several banks... Developing...

Read- New York Times

Read- Financial Times