You Gotta Protect The One’s You Serve

Comic from This Historic Times

Remember these promises during Barack Obama’s campaign?

Followed by some action during the bank bailouts… when populist pressure was mounting:

Pledging to take “the air out of golden parachutes,” President Obama announced Wednesday that executives of companies receiving federal bailout money will have their pay capped at $500,000 under a revised financial compensation plan.

But whaaaaaa, not so much when no one is looking:

“The Obama administration is engineering its new bailout initiatives in a way that it believes will allow firms benefiting from the programs to avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials.

Administration officials have concluded that this approach is vital for persuading firms to participate in programs funded by the $700 billion financial rescue package.”

Oh, and remember how he was opposed to Bush’s consolidation of powers in the executive branch and the NSA wiretapping program:

Turns out that once you get those powers, you aren’t so opposed to them, so now…:

The Obama administration formally adopted the Bush administration’s position that the courts cannot judge the legality of the National Security Agency’s (NSA’s) warrantless wiretapping program, filing a motion to dismiss Jewel v. NSA late Friday.

This is in essence a tacit endorsement of Bush’s policies saying the judicial branch cannot shut down warrantless wiretapping, so better check your phone to make sure no one’s listening.

See Also: Obama Administration Seeks to Help Wall Street Circumvent the Executive Pay Restrictions that Obama Has Been Advocating in Public, Very, very bad from Obama Administration, Obama = Worse than Bush, No Comment, Obama invokes “State secrets” over wiretapping lawsuit, Decoding Obama Law, TARP May Cost $167 Billion More Than Estimated, Former S&L Regulator: Absolutely A Banking Bailout Coverup, Some Changes I Can’t Believe In, US watchdog calls for bank executives to be sacked, Once You’re TARPed There’s No Going Back, Bailout Protestors March Near Wall Street, Obama Looking to Launder Bailout Money to Avoid the Pay for Performance Plan?, and Resist or Become Serfs.

[tags]barack obama, obama administration, ceo caps, caps in ceo pay, compensation, bonuses, bank bonuses, nsa wiretapping program, bush wiretapping, warrantless wiretapping, executive powers, policy, position, hypocrisy, campaign promises[/tags]

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  1. popurls.com // popular today…

    story has entered the popular today section on popurls.com…

  2. johns says:

    typical FOX NEWS REPORTING………….At Least he is not a DUMPO like BUSH

  3. Kit says:

    Bush had dumps like a truck truck truck
    Thighs like what what what
    All night long
    Let me see that thong

  4. Anonymous says:

    Great job on not sorting any of your sources or even dating them. I’m sure we are just to trust that you have the correct interpretation of all sources.

  5. alec says:

    Johns: I am actually very liberal, thus immune to your Fox News attacks.

    Anonymous: Washington Post article on the Obama administration encouraging banks to avoid bonus/pay restrictions is dated April 4th. The article from the EFF on the Obama administration moving to protect the legality of the Bush wiretap programs is dated April 6th.

    Ned: Apologies, that was unprofessional of me. The post now contains a link/source for the comic.

  6. Anubus says:

    It is good to see libs getting shafted by their very own Shafter-in-Chief. Obama wants to tear down the US economy so he can rebuild America into a Marxist state. His entire history is filled with Marxist, America haters.

  7. […] since before going into politics, he was a Constitutional scholar — but then again, he’s gotta protect the ones he serves instead of those who voted for him. So much for “change you can believe in.” He and the […]

  8. […] Det här har gjort att Obama dragit på sig kritik och en och annan humoristisk satirisk kommentar. Den här serien, till exempel, där vi får se vad som hänt om Obama ersatt Frodo vid Domedagsberget. […]

  9. […] Obama flip flops on CEO pay caps and his pledge to prosecute illegal wiretapping. […]

  10. […] to mention that he is now encouraging failed banks and companies receiving government bailouts to hand out large bonuses to their executives, staffed his entire Treasury Department with Goldman Sachs alumni, has refused to prosecute […]

  11. […] to mention that he is now encouraging failed banks and companies receiving government bailouts to hand out large bonuses to their executives, staffed his entire Treasury Department with Goldman Sachs alumni, has refused to prosecute […]

  12. Louvenia Zaborski…

    Practically I don’t read feature after which blogs….

  13. Jim Smith says:

    Those that want to cap CEO pay know nothing about economics. They are just jealous people.
    Redistribution of wealth in this manner is nothing but a cheap socialist cliché.

    It turns out, no matter how much money a person makes, it is spent to create jobs for others, either through direct spending on products and services, or indirectly, through reinvestment in an economy. Ultimately,
    investment money ends up in the hands of entrepreneurs who use it to create or expand businesses to employ people. Even earnings on investments is reinvested to create even more jobs.

    And CEO pay helps an existing company run better and more competitively, so that people in that company get to keep their jobs.

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