{"id":33767,"date":"2009-10-22T01:01:01","date_gmt":"2011-05-19T01:45:36","guid":{"rendered":""},"modified":"2011-05-19T01:45:36","modified_gmt":"2011-05-19T01:45:36","slug":"pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/10\/22\/pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it\/","title":{"rendered":"Pay Czar Cuts CEO Salaries 90% and Obama Didn\u2019t Know About It?"},"content":{"rendered":"<section>\n<p>RUSH: Let\u2019s move on to this pay czar business. I know a lot of you have mixed emotions about this. I\u2019ll explain what I think your mixed emotions are. Here you have a bunch of Wall Street types and they\u2019ve already got a bad image, I mean these are the fat cats paying themselves gazillion dollar bonuses and salaries and nobody likes that and, meanwhile, they\u2019re getting rich, everybody else got poor, the subprime crisis, all the fraud that was there. So these guys, to save themselves, sign up for the TARP bailout and they accept all this bailout money, and they probably all voted for Obama, or the vast majority of them did and now all of a sudden out of the blue here comes a pay czar saying, <img loading=\"lazy\" src=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125109.Par.89380.ImageFile_579144b6e86d5.jpg\" width=\"300\" height=\"250\" class=\"alignright\"\/>&#8216;Guess what, we\u2019re gonna cut your pay by 90%.\u2019 Some of you are going, &#8216;Well, good, about time that happened. These guys ripped us off, they stole, and everything, and now they\u2019re taking federal bailout money.\u2019 Okay, if you get in bed with a snake you gotta expect the snake to be a snake. In this case the government\u2019s the snake, you get in bed with the government, you let the government bail you out, you are opening yourself up to letting government tell you how to run your business. <\/p>\n<p>That\u2019s exactly what\u2019s happened, and I know that a lot you probably think that\u2019s pretty good. It\u2019s just like when you see taxes go up on cigarette smokers, &#8216;Yeah, smoking kills, secondhand smoke kills, raise taxes on those filthy people!\u2019 Yeah, you say that until it starts to happen to you. When everybody else starts to get the shaft but you don\u2019t and you think everybody who\u2019s getting the shaft deserves it, then you sign onto it. What happened yesterday with this pay czar, regardless of your emotions on this issue, is simply outrageous. The secret to presidential success, ladies and gentlemen, is deniability. That is one of the major secrets to any president\u2019s success. &#8216;I didn\u2019t know that was going on.\u2019 Bill Clinton, (doing Clinton impression) &#8216;Ha-ha, Waco invasion, why, you better go talk to the attorney general, I had no clue about that.\u2019 So now it is said that Obama had no idea that his pay czar, Kenneth Feinberg, had come up with this figure of 90% cuts in pay. He didn\u2019t know. Stands by the decision now but he didn\u2019t know about it.<\/p>\n<p>If that\u2019s true, these czars have even more power, there\u2019s even more reason for an investigation to be called. We got people who are not confirmed by the Senate, not accountable to anybody except Obama and he doesn\u2019t know what they\u2019re doing, his own administration says, running around basically taking over the private sector under the guise of bailing it out and helping it. You can look at General Motors and Chrysler and say, &#8216;Hey, that\u2019s going well, isn\u2019t it?\u2019 We learned yesterday that all that bailout money, guess what? The taxpayers will not get it back. Really? Government investments in these things are not going to pay off. Big shock. Whoever thought they were? <\/p>\n<p>&#8216;It will go down in history as one of Barack Obama\u2019s signature decisions on the economy, a dramatic move to slash corporate pay at bailed-out banks and automakers. But on Wednesday night, administration officials said that the president of the United States didn\u2019t have all that much to do with a decision that will, in many ways, come to define his relationship with Wall Street. In fact, sources within the administration say the decision to cap corporate pay was Kenneth Feinberg\u2019s, and his alone. &amp;hellip; Feinberg\u2019s decision rocked Wall Street &amp;ndash; where many otherwise media friendly executives avoided phone calls and deleted e-mails from reporters Wednesday night. Many issued outright &amp;ldquo;no comment&amp;rdquo; statements rather than react to the pay-cut news in the first hours after the news broke. Very few executives thought a pay cut of this magnitude was in the offing.\u2019<\/p>\n<p>Where to start with this, folks? This is a level 10 BS alert, Barbra Streisand alert. First we are supposed to believe that little old Barry Obama had no idea that his pay czar was out acting like a fascist, and other czars have and do. Barry was clueless that some rogue czar in his administration was out dictating pay for financial firms? It\u2019s like Barry had no idea that Anita Dunn idolizes Mao Tse-tung? Barry had no idea that Ron Bloom idolizes Mao Tse-tung? Barry had no idea that Van Jones was an avowed Marxist and communist? Barry had no idea of any of this? You see the wall of deniability the press is trying to build up? He didn\u2019t know about any of this. He\u2019s Mr. Perfect. He\u2019s Mr. Clean. He\u2019s Mr. Calm, Cool, and Collected. He\u2019s reworking the American economy so what\u2019s happening now doesn\u2019t ever happen again. The only way that can happen is if what\u2019s happening now becomes permanent. Let\u2019s go there. Has there ever been a more compelling case, I ask you, for Congress to get rid of every so-called czar there is, has there ever been a bigger bucket of crap poured on Americans and American businesses than this administration and this so-called pay czar who\u2019s acting unilaterally without old Barry\u2019s knowledge? <\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125109.Par.4584.ImageFile.jpg\" width=\"300\" height=\"326\" class=\"alignright\"\/>Is there no one in Congress to stand up and say, &#8216;What\u2019s going on? We\u2019re going to investigate this.\u2019 You\u2019ve got people acting without the president\u2019s knowledge, interfering in the private sector, capping executive pay. The problem is, the Democrats in Congress are all for this, and Barney Frank, in case you\u2019ve forgotten, wants Congress to go further than even the pay czar has gone. Barney Frank wants the government to regulate pay of every business in the country whether they\u2019ve received bailout money or not. So it\u2019s no wonder Obama is out there attacking me and Fox News. Who else will report this? That\u2019s what\u2019s really going on here. The people who are reporting the truth in this country are the targets of this administration. Fox News, talk radio, me in particular. That\u2019s what\u2019s going on. The American Thinker has a piece today. There was a hearing yesterday. Joe Lieberman, whatever his Senate health committee is, Lieberman had three administration officials up to talk about the shortage of the H1N1 flu vaccine. <\/p>\n<p>Have you seen any news stories on that? Did you know it happened other than me telling you? If there were a shortage of flu vaccine in the Bush administration and a Senator had called three members of the administration up to explain it, that\u2019s all you\u2019d be hearing about because they\u2019d be trying to create a panic that Bush is incompetent, his administration is so incompetent it\u2019s going to lead to people dying. There was one news agency that reported the results, the story at all. It was Fox News. You can go to Google, you can go to AOL, you can go to any search engine you want and try to find any mainstream story of Lieberman and a hearing with three administration officials on the shortage of H1N1 and it\u2019s not there. They didn\u2019t report it. Only Fox did. And in this way, some people are saying maybe the administration\u2019s plan to marginalize Fox is working. Fox reports something, you simply let it stay with Fox, it doesn\u2019t go anywhere else, and only the Fox audience will know about it. There is definitely collusion, because there\u2019s no difference between Barack Obama and Chris Matthews, Barack Obama or anybody else in the Drive-By Media, they are on the same team, they are doing the same things, just from different locations. <\/p>\n<p>I think everything about this story, this pay czar, is blockbuster. It\u2019s late-night comedy gold. Everything about the story is a lie. Everything about the story, this is in The Politico, but it\u2019s all over the place, it\u2019s at FoxNews.com, every detail about this story has to be a lie. I refuse to believe that Obama didn\u2019t know what Feinberg was doing. In fact, the truth probably is Feinberg\u2019s following orders. Feinberg is following orders, and I guaran-damn-tee you, Obama said you get up there and you rape \u2019em and you make \u2019em poor and you make \u2019em pay and you let \u2019em know. Just don\u2019t tell \u2019em that I knew anything about it. You go out there and you\u2019re on your own and I\u2019ll back you up. <\/p>\n<p>I don\u2019t believe for a moment that Obama had no idea what his pay czar was doing when he announced these kinds of cuts. &#8216;One official told Fox News that Feinberg from the start had the independent authority to work with companies and make such a call. Obama was never required to sign off before final decisions were made.\u2019 Whiskey, Tango, Foxtrot, WTF, who the hell is going to believe this? Sign me up for the Ten Million Man March, folks. This is so much worse than Clinton hiding behind Janet Reno\u2019s skirt after the Waco invasion, it isn\u2019t even funny. Obama didn\u2019t sign off? What the hell else has he turned over to his czars? I mean it\u2019s all a lie. <\/p>\n<p>Here\u2019s another headline from Fox News: &#8216;White House Pay Czar Kenneth Feinberg Did Not Seek Obama\u2019s Approval.\u2019 I don\u2019t believe it for a minute. I believe that Feinberg could not have acted without Obama\u2019s instructions. Make no mistake, Obama is not an innocent bystander, he\u2019s not Mr. Perfect, this guy\u2019s got a chip on his shoulder and he\u2019s going after everybody that he thinks is responsible for this nation\u2019s immorality and unjustness and unfairness, and those people happen to be those who achieve. I would really like to ask everybody, because I know there are a lot of people happy about this, this is what\u2019s scary, there are a lot of people happy that these guys have been raped this way. That\u2019s why I started the subject saying &#8216;I know you\u2019ve got mixed emotions.\u2019 But I want to ask you a question, I want to ask you how is your life better now that the pay czar is in control? Okay, these Wall Street guys got 90% of their salaries cut. I want to know how that\u2019s improved your life. If all you\u2019re doing is sitting around saying, &#8216;Yeah, man, yeah, man, you screw \u2019em,\u2019 is your life any better for that? You want to live on vengeance? Is vengeance your diet? Is vengeance your meal? Show me the calories. Show me the nutritional value of it. <\/p>\n<p>Just like when the rich get tax increases, &#8216;Yeah, man, yeah, man, soak \u2019em,\u2019 does it make your life any better? So Wall Street execs are gonna lose 90% of their compensation. How is that job search coming for you, by the way? So you gonna get a new job now because of this? You gonna get more money? You going to have a better life because Wall Street got screwed? Cut salaries of a hotshot Wall Street guy, no problem, I\u2019m not a Wall Street guy, you go ahead and cut \u2019em. Go ahead and raise taxes on cigarettes. I\u2019m not one of the cigarette smokers. Ripple effect. It\u2019s all coming. It\u2019s going to affect all of us. It\u2019s right out in the open, we can all see it. By the way, in the Associated Press story on this, is this little paragraph: &#8216;Elsewhere, Freddie Mac &#8211;&#8216; a supposed private sector business, it\u2019s a government-run mortgage house &#8216;&#8211; Freddie Mac is giving its chief financial officer compensation worth as much as five-and-a-half million dollars, including a $2 million signing bonus. The government-controlled mortgage finance company doesn\u2019t have to follow the executive compensation rules because it\u2019s being paid outside the Troubled Asset Relief Program, or TARP.\u2019 So you work for the government and you get paid whatever you want. Five-and-a-half million to the Freddie Mac CEO, Wall Street guys get canned, get raped. And Barry Obama had no clue. Do you believe that?<\/p>\n<p>BREAK TRANSCRIPT<\/p>\n<p>RUSH: John in Houston. Welcome to the EIB Network, sir. Hello.<\/p>\n<p>CALLER: Hey, Rush! Mega dittos from the great state of Texas. Listened to you for many years, and it\u2019s so funny I get through on a day that I disagree with you on this one issue.<\/p>\n<p>RUSH: Yeah?<\/p>\n<p>CALLER: I\u2019m open&#8230; I\u2019m I will open to your ideas and changing me. The only thing I would like that B.O. has done so far is given those Navy SEALs the authorization to shoot the pirates. So I\u2019m not a supporter of his. BUT the pay czar is limiting the compensation of the CEOs who have received my tax dollars. So I understand the overall principle you\u2019re saying, that it\u2019s a bad thing for the government to get into this business of regulating who can make what. I don\u2019t agree with that overall. But in these specifics instances, what\u2019s wrong with it?<\/p>\n<p>RUSH: Well, there\u2019s a practical reality to all of this, and that is: Despite what you think of these people, they are the best and brightest at what they do and they\u2019re going to go elsewhere. They\u2019re going to elsewhere. They\u2019re going to leave the country to find jobs elsewhere. They\u2019re not going to sit and put up with this. You know, we can go on and on and on about &#8216;my tax dollars bailed them out.\u2019 You know, 1.4 trillion of our tax dollars don\u2019t even exist and they\u2019re spending it! Look, I understand the mixed feelings. Central Planning fascists shouldn\u2019t have anything to say about private sector compensation. That\u2019s a given. But these firms took money from central planners. (I really would like to know how many of them voted for Obama.)<\/p>\n<p>But here\u2019s the thing. Every business in the country can now see what happens when you make a deal with the devil, when you get in bed with the snake. You end up selling your soul. These companies are now screwed, John! They are screwed, which is the design here. The Obama administration&#8230; This is fascism: They\u2019re still private owned but they\u2019re being run by who? Not even Obama, we\u2019re told. The freaking pay czar, who doesn\u2019t even have to tell Obama what he\u2019s doing! So he doesn\u2019t have to stop at the execs. He can limit the pay of the janitors. He can limit the pay of anybody he wants &#8212; and pretty soon, it\u2019s going to spread beyond companies that took TARP money. These people who put their companies on the hook are gonna get the hell out, and the second-teamers will step in and run things into the ground in partnership with the government that intends to take over these businesses. <\/p>\n<p>The unintended consequences here are things that you need to look at. It\u2019s tempting to say, &#8216;Those are my tax dollars. They took my tax dollars and they paid themselves big bonuses! It\u2019s about time we got the tax dollars back!\u2019 You\u2019re not going to get the tax dollars, pal. Obama is taking them back, Obama is stealing people\u2019s work. Go talk to Ken Lewis who runs Bank of America. They are retracting; they are taking back his entire 2009 salary, the whole thing! Not 90%. All $2.3 million of <img loading=\"lazy\" src=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125109.Par.78179.ImageFile.jpg\" width=\"300\" height=\"200\" class=\"alignright\"\/>it. Now, class envy has been practiced so well by the Democrats and a lot of the country is cheering about this. But it\u2019s not helping anybody\u2019s life. It\u2019s not improving anybody\u2019s circumstance. I\u2019ll tell you who I feel for here, John. There are shareholders of these companies. People like you who have invested in these companies, not with your tax dollars but with your after-tax dollars. Our government has taken advantage of a financial crisis they created. They\u2019re destroying firms, they\u2019re destroying jobs, destroying wealth, and they don\u2019t need to be applauded for it!<\/p>\n<p>BREAK TRANSCRIPT<\/p>\n<p>RUSH: Look, folks, I\u2019m going to have a lot more to say about this as soon as we get back in the <a xhtml:id=\"\/content\/home\/daily\/site_102209\/content\/01125110\" href=\"\/\/\/home\/daily\/site_102209\/content\/01125110.html\">monologue segment<\/a> of the next hour. But would you people please stop and think what you\u2019re saying? So you pay taxes and you think you can dictate pay for firms? You pay taxes, and that allows you to support people who want to take over private business? Do you get to tell Walmart how much it pays people simply because you go in there and buy a damn pair of flip-flops every other day? Folks, you gotta wake up here. This is absurd.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RUSH: Let\u2019s move on to this pay czar business. I know a lot of you have mixed emotions about this. I\u2019ll explain what I think your mixed emotions are. Here you have a bunch of Wall Street types and they\u2019ve already got a bad image, I mean these are the fat cats paying themselves gazillion [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pay Czar Cuts CEO Salaries 90% and Obama Didn&#039;t Know About It? - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/10\/22\/pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Pay Czar Cuts CEO Salaries 90% and Obama Didn&#039;t Know About It? - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Let\u2019s move on to this pay czar business. I know a lot of you have mixed emotions about this. I\u2019ll explain what I think your mixed emotions are. Here you have a bunch of Wall Street types and they\u2019ve already got a bad image, I mean these are the fat cats paying themselves gazillion [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125109.Par.89380.ImageFile_579144b6e86d5.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\",\"url\":\"https:\/\/admin.rushlimbaugh.com\/\",\"name\":\"The Rush Limbaugh Show\",\"description\":\"Excellence In Broadcasting\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/admin.rushlimbaugh.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/10\/22\/pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125109.Par.89380.ImageFile_579144b6e86d5.jpg\",\"contentUrl\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125109.Par.89380.ImageFile_579144b6e86d5.jpg\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/10\/22\/pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it\/#webpage\",\"url\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/10\/22\/pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it\/\",\"name\":\"Pay Czar Cuts CEO Salaries 90% and Obama Didn't Know About It? - The Rush Limbaugh Show\",\"isPartOf\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/10\/22\/pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it\/#primaryimage\"},\"datePublished\":\"2011-05-19T01:45:36+00:00\",\"dateModified\":\"2011-05-19T01:45:36+00:00\",\"author\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/10\/22\/pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/10\/22\/pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/10\/22\/pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rushlimbaugh.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Pay Czar Cuts CEO Salaries 90% and Obama Didn\\u2019t Know About It?\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\/\/www.rushlimbaugh.com\/daily\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Pay Czar Cuts CEO Salaries 90% and Obama Didn't Know About It? - The Rush Limbaugh Show","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/10\/22\/pay_czar_cuts_ceo_salaries_90_and_obama_didn_t_know_about_it\/","twitter_card":"summary","twitter_title":"Pay Czar Cuts CEO Salaries 90% and Obama Didn't Know About It? - The Rush Limbaugh Show","twitter_description":"RUSH: Let\u2019s move on to this pay czar business. I know a lot of you have mixed emotions about this. I\u2019ll explain what I think your mixed emotions are. 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