Archive for February, 2009

Modify the Mortgage Plan to Stop FreePassers: There Must Be Pain!

Saturday, February 28th, 2009

As I mentioned in one of my earlier posts, President Obama has proposed a plan to assist mortgage borrowers suffering from falling home prices and unaffordable monthly payments. It would allow those with minimal or no equity to refinance their mortgages at lower interest rates to bring their payments more in line with their income.
Anger [...]

A Question About the Economic Rescue Plans: Who Picks Up the Tab?

Monday, February 23rd, 2009

 
The government has announced plans to rescue the banking system, to stimulate the economy, and to prevent mortgage foreclosures. These programs have generated many questions regarding their implementation and efficacy. However, the really big question that no one in Washington, D.C. seems to be asking is, Who picks up the tab for the cost of all of these programs?
Bringing up [...]

Government Accountability in Action: The New York City Police Department

Tuesday, February 10th, 2009

Some people have claimed that accountability in the public sector is even more difficult than the private sector because of the degree of bureaucracy involved. This is the primary reason that many are pushing for increased privatization of government services.
History has shown that there are limits to the degree of privatization that society will accept, so we [...]

The Obama Compensation Limits: FreePassers Not Allowed

Thursday, February 5th, 2009

President Obama announced that he wants to impose compensation limits on executives of companies that receive government financial rescue funds. His proposal includes the following provisions:

A $500,000 cash cap on annual compensation for senior executives
Requiring top executives at financial institutions to hold stock for several years before they cash out
Requiring nonbinding “say on pay” resolutions [...]

Trust in Banks and the Congressional Pig Roast: FreePassers in the Beltway

Tuesday, February 3rd, 2009

Although my last several posts have focused on FreePassers in corporate America and on Wall Street, we also find an abundant number of them in government, especially in Washington, D.C.
Trust the Banks: One of the Greatest Lies in History
When the original TARP (Troubled Asset Relief Program) legislation was first introduced it had few restrictions and was [...]