McCaskill unloads on Wall St. 'idiots'

Posted: Friday, January 30, 2009 1:57 PM by Domenico Montanaro
Filed Under: Congress

From NBC's Ken Strickland
President Obama may have called it "shameful," but Sen. Claire McCaskill took to the Senate floor and unloaded on the corporate execs getting billions in bonuses funded by taxpayer dollars: "We have a bunch of idiots on Wall Street that are kicking sand in the face of the American taxpayer." And then the Missouri Democrat reloaded.

Video: McCaskill: Wall St. 'kicking taxpayer in shins'

"They don't get it," McCaskill said. "These people are idiots. You can't use taxpayer money to pay out $18-billion in bonuses... What planet are these people on?"

Today, McCaskill introduced legislation that would cap the executive pay at any company getting federal bailout money at $400,000. (The same salary of the US President.) "They'd have to limit that executive compensation for everyone in their company until they pay back every dime to the taxpayers," she said.

"Once they're off the public dole, once the taxpayers aren't footing the bill, then it's not as much our business what they get paid," she said. "But right now, they're on the hook to us. And they owe us something more than a fancy waste basket and a $15-million dollar jet. They owe us some common sense."

McCaskill added, "We must have our financial institutions survive, but not with a culture that thinks it's OK to kick the taxpayer in the shins while they drink champagne and fly in fancy jets."

And with one more round in the chamber, she fired off: "We should have done it in the first place, but I don't think any of us thought these guys were this stupid... but we've learned our lesson."

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Comments

AMEN!

Jay Jones Sheppard AFB TX (Sent Friday, January 30, 2009 2:04 PM)

Amen sister!!

Linda, CT (Sent Friday, January 30, 2009 2:05 PM)

Way to go Senator McCaskill!

I'm glad that SOMEBODY in Washington is actually trying to do their job!

Bravo!

Nashville_fan (Sent Friday, January 30, 2009 2:06 PM)

Thank you Senator McCaskill!

Angry + Broke (Sent Friday, January 30, 2009 2:08 PM)

Talking and yelling won't get it done. Put their butts in jail ... for a long time.

Suzy Cincinnati (Sent Friday, January 30, 2009 2:09 PM)

You go girl!

Julie, Palm Desert, CA (Sent Friday, January 30, 2009 2:09 PM)

What a great lady Claire McCaskill is jumping down the throats of the banking robber barons. Congress needs to pass clawback legislation to take back those bonuses from the criminals who wrecked our abking system and make sure they do not profit like this while their banks are getting taxpayer welfare.

The answer to Claire's question of what planet these criminals are from is the planet "Grand Larceny"

Micheal Steele is a closet Democrat! Thanks Andrea Mitchell for boldly displaying the sign of truth that the repugnant ones are choosing a closet Demcorat to run the RNC. Can't wait to hear the premature ejaculation of hate and outrage from Mount Lushmore, the Viagra Chronicler.

MSNBC Rocks!

Eric, Salinas, CA (Sent Friday, January 30, 2009 2:11 PM)

"You can't use taxpayer money to pay out $18-billion in bonuses... What planet are these people on?"
-----------------------------------------------------

And this is different from democrats using billions of taxpayer money to pay their special-interest groups and fund climate research under the guise of a stimulus package that does nothing to stimulate the economy?

It's a Shame (Sent Friday, January 30, 2009 2:12 PM)

Times are sure changing, when the truth can be spoken out in the open. Accountability we can believe in. Very refreshing.

Bashilange, Belleuve, wa (Sent Friday, January 30, 2009 2:14 PM)

Her, I like. She seems so down-to-Earth. Maybe it is her MidWestern roots.

Nicholas: Minnesota (Sent Friday, January 30, 2009 2:14 PM)

I say, let 'em eat cake and shop at Walmart, so they can see for themselves what they've done. $400,000 is still WAY too much for incompetent, thieving, greedy ... (oh, never mind). There really are no words for this.

Anna Molly (Sent Friday, January 30, 2009 2:15 PM)

Well done Domenico: You demonstrated respect to the President's office. Senator McCaskill is right on. Tell it like it is. Freeze those salaries at $400,000 and no bonuses.
The Chris Matthews question is: "How can a person who rose to the top of their company be so dumb?" I guess they live in their own little world and think they are untouchable. Go after them Claire!

Ron Indiana (Sent Friday, January 30, 2009 2:16 PM)

Very original. After Obama was praised for this on all the newscasts last night, she thought she'd do the same thing today.

Kenny, Peekskill (Sent Friday, January 30, 2009 2:16 PM)

This is the category Japan's automakers kill detroit on! DUH! Toyota's southern plant workers get paid MORE than detroit's (but less is spent on retirees, which they have less of) but the entire management team at Toyota, probably all of them together, make less the Wagoner over at GM, and you can bet your bippy that when Toyota posted it's FIRST LOSS EVER the CEO ain't getting a bonus to reward him like wagoner.

$400,000 IS TOO MUCH, I DO MY JOB SUCCESFULLY AND I DON'T GET 1/4 OF THAT, WHY SHOULD MY TAX DOLLARS SUPPORT PAYING FAILED/FAILING EXECS AT THAT LEVEL?!?!?!

Ted K, Hyannis, MA (Sent Friday, January 30, 2009 2:17 PM)

Thank You!!!

Judy in AZ (Sent Friday, January 30, 2009 2:17 PM)

Claire ROCKS!!!!

McCaskill-2016!!

Greg Chicago (Sent Friday, January 30, 2009 2:17 PM)

Make it stick!

Karl, CA (Sent Friday, January 30, 2009 2:21 PM)

All right, which one of you dumb $ss Republicans wants to start a petition to bring back Bush? Looks to me like that is what your leader Limbaugh is hoping for. The country did not falter with him in charge did it?

A.Brocco,Albuquerque,NM (Sent Friday, January 30, 2009 2:21 PM)

Yah! Especially the part about not paying them more than the President. They shouldn't get paid more than an American soldier in Iraq.

Amy B Portland, ME (Sent Friday, January 30, 2009 2:21 PM)

You go girl! I looked at the article about the bonuses this morning on the internet right next to the article about record homelessness. Our values in this country are seriously distorted. Thomas Jefferson cautioned that one of the greatest threats to democracy was too much of the wealth of the country in the hands of too few. This creates a "ruling class". He was right and it's where we are headed. Thank you Senator for fighting the "good fight".

Joan, Minneapolis (Sent Friday, January 30, 2009 2:25 PM)

i understand her sentiments and agree with them. it's just strange that they're the ones making off with billions and they're idiots. if that's being idiotic, i don't want to be smart.

hermy (Sent Friday, January 30, 2009 2:25 PM)

Claire, please, don't embarrass yourself more then Obama has already embarrassed himself. You're one of the same crowd behind the funding the biggest bailouts, the biggest spending of money you don't have, in the history of the country. You've worked a total of two years in the private sector, and couldn't run a lemonade stand, let alone a real business. Your populist message is nothing more then advocation of more government takeover and control of private businesses. You need to get YOUR house in order before you run around it be critical of others!

What a pathetic display by a clueless woman.

Elly Sees, Arkansas (Sent Friday, January 30, 2009 2:27 PM)

Smart lady. She was one of President Obama's first sopports from the senate. Nice wording with the salary cap Sen. McCaskill.

Lee-- Dallas, TX (Sent Friday, January 30, 2009 2:27 PM)

I'd be interested to know how Ms. Mccaskill voted on the pork-bloated stimulus bill before giving her too much praise. I'd also like to know if she criticized her new President and his team for spending the most $$ ever on a Presidential Inauguration. Also, when all the Hollywood and music star icons travelled to the Washington DC for the Inauguration, did she criticize them for all of their private jets (bad for Global warming, you know) they travelled in? How does she feel about President Obama promising "No lobbyists" in his administration and how having at least a dozen or some ex-lobbyists working there? Also, was she at all concerned that the President's new Treasury Secretary (highest economic post in the nation) hadn't paid taxes owed for several years UNTIL he was nominated for the position??? I'm glad she's outraged about Wall Street (so am I) but until I see her taking on her own and their corruption and hypocrisy, I'm not too impressed.

neutral (Sent Friday, January 30, 2009 2:28 PM)

That's my girl! She was our Prosecuting Attorney here in KC in her early political career. Very no nonsense. Won her seat from a Republican in the great DEM wave of 2006! Very proud to call her my Senator!

Hey Kenny, suck it.

Clara Kansas City, MO (Sent Friday, January 30, 2009 2:29 PM)

Thank you Senator McCaskill - ENOUGH!!!!!!

cindy, Las Vegas, Nv (Sent Friday, January 30, 2009 2:29 PM)

This is what Obama said to McCaskill and how he said it in a private conversation with McCaskill last night. She has just brought it to the floor.

And it is not a matter of these CEOs being dumb. On the contrary they are very bright. It's not ignorance, it's greed that controls their minds. And that is stupidity. But most likely intended stupidity. How many do you think are trying to pad their personal bank accounts quickly with the intent of leaving their company or retiring soon as a result of a worsening economy? These people are like rats who will be the first off a sinking ship, but they are trying their damndest to make sure they first horde a shitful of cheese before they take the leap.

C A, Tuscaloosa, AL (Sent Friday, January 30, 2009 2:30 PM)

In this economy, I'm sure you can find someone who will do their jobs for only $100,000.

sg, michigan (Sent Friday, January 30, 2009 2:31 PM)

We just got rid of a populist governor in Illinois. Last populist president we had was Carter. We see how each of those worked out. Not so hot. Clinton sold himself as a populist ("I feel your pain") but sure didn't govern that way. Now Obama is trying to be a populist. It all sounds good, but in the end, it is sooooo phony. You can't keep being critical of the people that produce, that they are somehow evil, and keep giving things to people that don't produce.

Here's a clue Mccaskill, if you don't like how businesses are spending the money you give them, don't give it to them! You're the one that voted for it for heavens sake! And let me guess, you can't wait to vote Aye on the $819 billion bill that just showed up in the Senate!

Dumb and Dumber - That's the Democrats (Sent Friday, January 30, 2009 2:34 PM)

Liberals are nuts. They want the government to give away money as fast as it can, but then do nothing but complain about how it's spent by the people they give it away to.

Terri Brandon, TN (Sent Friday, January 30, 2009 2:36 PM)

Way to go, Sen. McCaskill!!!! How refreshing. And maybe -- pray! pray! -- that bill will be passed. One of the reporters this a.m. was saying that outrage about this was extremely bipartisan. --- And, you know, if the 'big shots' aren't willing to stay for a "measley" $400,000, you might get some very bright - and sane - people moving into those jobs and actually doing something right.

(Oh, and Kenny .... Pres. Obama did not introduce legislation yesterday -- he couldn't. It takes a Senator or Congressperson to do it. But, don't worry, I'm sure you'll find something else to be cynical and dismissive about.)

Elizabeth (Sent Friday, January 30, 2009 2:41 PM)

Yes, cap corporate handouts. I'm not against stimulus and limited tax breaks to encourage business investment. But, what we have seen more of is investment in one's own pocket rather than investment in productivity. Why did steel die in the USA? They blamed it on the high wages of the workers. The fact is the owners bleed the industry for their own benefit, invested little in improvements and inovation, and were not ready for the inovative foreign steel companies. The same has happened with one corporation after another. No infrastructure, no research, no inovation, but plenty of pretty offices, wardrobes, travel expenses, vacations, big houses. The ones on top have inflated themselves and left their companies fail. NO MORE MONEY TO FEED GREEDY MANAGERS AND OWNERS.

mexed, san antonio, texas (Sent Friday, January 30, 2009 2:41 PM)

Hey Kenny, suck it.

Clara Kansas City, MO

Eat me you wh*re.

Kenny (Sent Friday, January 30, 2009 2:42 PM)

If those wall street execs and bankers don't listen.. then take our money back! This money was SUPPOSED to be used to infuse the banks to unclog the credit freeze? Did that happen? NO. It's no wonder no one could account for where the money went to from TARP.. well we now know that 18.4 Billion of it went into the Pockets of those that tanked those companies in the ground. Since when do people get bonuses for destroying companies?

And for you naysayers of the Stimulus bill. Yes its not popular, wonder why? no oversite of the TARP money is proof of that. Yes there is some crap in the bill that needs to be removed. What good is a tax cut going to do if there is no business or workers to Tax? We need an infusion into the economy directly to put people back to work, like infrastructure and new energy or something tangeable that gives people their jobs back! Then maybe tax cuts might work.

But these execs! This is utterly disgusting. President Obama and Congress needs to put a stop to the insanity that is corporate greed. Of course they are going to kick and scream about it especially those who are lobbied by those greedy ones who probably pushed for no oversight of the TARP money and are now crying foul over the new stimulus bill because it isn't going to help them line their pockets more. Stick it too these recipients of these ridiculous bonuses and the companies idiotic enough to give it to them.

Its a slap in the face to the American Public and shows the stupidity of a company who hands over the Billions of dollars saying "Thank you for running our company and economy into the ground." *hands over big fat check* Darn it! I need to go see if that same mentality will work on my boss!

*jumps off soap box*

disgusted in Corporate Greed (Sent Friday, January 30, 2009 2:42 PM)

Isn't McCaskill one of the idiots that voted for giving out that money in the first place?

G Reese-Ownes, Monroe, IN (Sent Friday, January 30, 2009 2:44 PM)

You go Girl!

nadeem (Sent Friday, January 30, 2009 2:45 PM)

"They don't get it," McCaskill said. "These people are idiots. You can't use taxpayer money to pay out $18-billion in bonuses... What planet are these people on?"

Today, McCaskill introduced legislation that would cap the executive pay at any company getting federal bailout money at $400,000. (The same salary of the US President.) "They'd have to limit that executive compensation for everyone in their company until they pay back every dime to the taxpayers," she said.

"Once they're off the public dole, once the taxpayers aren't footing the bill, then it's not as much our business what they get paid," she said. "But right now, they're on the hook to us. And they owe us something more than a fancy waste basket and a $15-million dollar jet. They owe us some common sense."

They're on the "ME" planet, the kiss my a$$ America planet. It makes you real sick doesn't? thanks Sen. McCaskill!

Anita, Birmingham, Alabama (Sent Friday, January 30, 2009 2:45 PM)

And McCaskill is only 55 (July '53). Come the election season of 2016 she'll be going on 64, not too old to become our first Madam President.

ColoDem (Sent Friday, January 30, 2009 2:48 PM)

I'm a Missouri voter who campaigned for McCaskill and WILL NOT EVER VOTE FOR HER AGAIN!! NBC needs to make very public every stupid thing she says (they got a bunch of practice with OBAMA!!) then maybe enough STUPID people will vote for HER for them to get their way in another election.

Jodi, St. Joseph, MO (Sent Friday, January 30, 2009 2:49 PM)

Terri Brandon -- I doubt that any liberal would have chosen to give away bunches of money to ***bankers***. Trust me, if we're into playing Santa Claus there are others we'd much rather see get the benefit. --- The bankers got the money because the Bush administration (conservative Republicans, I believe) convinced everyone that the whole house would fall down around our ears. And since they had been so secretive with information and lax on regulations for 8 years, it was difficult to disprove. You can't have it both ways: your guys convince everyone that a big step is needed (Iraq war, bailout) and then you blame Dems for having behaved responsibly based on what they were told by the only people who had the information. --- It's not liberals who are nuts -- it was the American people ... in 2000 and esp. 2004. But they wised up last year.

Elizabeth (Sent Friday, January 30, 2009 2:50 PM)

C A ~ A WHAT full of cheese? My, my, my ... are we colorful today, or what? ;)

Anna Molly (Sent Friday, January 30, 2009 2:54 PM)

Nobody kicks sand in the face the taxpayer like a devoted democrat!

Free American Tehachapi Ca. (Sent Friday, January 30, 2009 2:54 PM)

McCaskill is just like Obama, blah, blah, blah, blah, blah. All talk, no action. Make it sound good for the peons.

Any one check McCaskill's donors to her campaign? Let me guess, lot of the same companies she whining about?

Salles Jones (Sent Friday, January 30, 2009 2:55 PM)

Companies on the taxpayer dollar should not pay their executives more than 66% of the salary of the lowest paid worker. Thank Claire for having some big ones. Maybe you should be the leader of the Senate.

Rory (Sacramento) (Sent Friday, January 30, 2009 2:56 PM)

Put them all on commission. That would assure they get their act in gear.

Jackson, Seattle (Sent Friday, January 30, 2009 2:56 PM)

McCaskill just keeping the rubes happy. Ladel another Trillion on the top there, will you Claire?

Mr. Bigg (Sent Friday, January 30, 2009 2:57 PM)

Finally, someone other than President Obama in Washington that is showing some common sense. I agree that not only their salaries be capped, but also the bonuses. If they are making a profit, no one would argue a reasonable bonus. These multi-million dolaar bonuses are plain crazy when normal people are losing their jobs......100,000 THIS WEEK alone.

Diane from Illinois (Sent Friday, January 30, 2009 2:59 PM)

The roots of this whole mess began years ago. They were warned about years ago, not just months ago. Congress had the opportunity to address them at that time and chose to do nothing until the cat was well out of the bag. When will our esteemed Senators and Representatives step up and take their share of the blame? I won't hold my breath waiting.

Steve, Plainfield, New Jersey (Sent Friday, January 30, 2009 3:38 PM)

Hey Kenny ~ Clara's WAY out of your league.

Anna Molly (Sent Friday, January 30, 2009 3:39 PM)

I can't believe you people support something like this. It is absolutely insane and contrary to the ideas of our country. I am terrified at what the next few years of liberal control will bring. This really does open the door to let the government tell people what to do with rebate checks.

Let's take a look at the logic (or lack of it) behind this proposal. The government decided to bail out failing and unethical businesses and you expect them to magically become well run, ethical businesses? Failure exists for a reason people.

Alex, Columbia, MO (Sent Friday, January 30, 2009 3:41 PM)

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