Fox & Friends graphic falsely claims, "Bill lets government set your salary"
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SUMMARY: Fox & Friends aired a graphic that falsely claimed of the Pay for Performance Act: "Bill lets government set your salary." In fact, the bill would regulate compensation only for employees of financial institutions that have received federal assistance.
During a discussion of the House Financial Services Committee's vote in favor of H.R. 1664, the Pay for Performance Act, Fox News' Fox & Friends aired on-screen text that falsely claimed: "Bill lets government set your salary." In fact, the bill would not regulate pay for all workers but rather regulates compensation only for employees of financial institutions that have received federal assistance -- a fact acknowledged by co-host Steve Doocy and guest Glenn Beck during the segment. Additionally, the bill regulates pay for those institutions during the period in which the public investment in them remains outstanding.
From the text of H.R. 1664 as adopted by the House Financial Services Committee:
(1) PROHIBITION. -- No financial institution that has received or receives a direct capital investment under the Troubled Assets Relief Program under this title, or with respect to the Federal National Mortgage Association, the Federal Home Loan Montage Corporation, or a Federal home loan bank, under the amendments made by section 1117 of the Housing and Economic Recovery Act of 2008, may, while that capital investment remains outstanding, make a compensation payment, other than a longevity bonus or a payment in the form of restricted stock, to any executive or employee under any existing compensation arrangement, or enter into a new compensation payment arrangement, if such compensation payment or compensation payment arrangement --
(A) provides for compensation that is unreasonable or excessive, as defined in standards established by the Secretary, in consultation with the Chairperson of the Congressional Oversight Panel established under section 125, in accordance with paragraph (2); or
(B) includes any bonus or other supplemental payment that is not directly based on performance-based measures set forth in standards established by the Secretary in accordance with paragraph (2).
Provided that, nothing in this paragraph applies to an institution that did business with a recipient of a direct capital investment under the TARP.
Indeed, during the segment, Doocy said: "Now, we know with the bonus bill thing it says that if you take government money -- your corporation does -- they can control the amount of money that you would get in a bonus form and also salary if you are a top executive. But this new bill says it goes beyond just the top executives -- it affects anybody in the building" [emphasis added]. Similarly, Beck said: "So if you are taking government money -- let's just say like you are in Congress and you don't perform and your business isn't doing well, then you should make less than -- what does Congress make -- $174,000 a year" [emphasis added].
In addition to the "Bill lets government set your salary" graphic, Fox News also aired graphics falsely describing the bill as "[c]ontrolling your compensation" and "[s]etting your salary":
From the March 31 edition of Fox News' Fox & Friends:
DOOCY: All right. Let's talk a little bit about something -- Byron York in the Examiner in Washington today, Glenn Beck, is talking about how apparently the House Financial Services Committee has approved a measure that goes beyond the AIG bonus bill.
BECK: I'm shocked.
DOOCY: It's called the Pay for Performance Act of 2009.
BECK: Yes.
DOOCY: Now, we know with the bonus bill thing it says that if you take government money -- your corporation does -- they can control the amount of money that you would get in a bonus form --
BECK: Yes.
DOOCY: -- and also salary if you are a top executive.
BECK: Right.
DOOCY: But this new bill says it goes beyond just the top executives --
BECK: Right.
DOOCY: -- it affects anybody in the building.
BECK: Let's see if I have this right. Anybody who is taking government money --
DOOCY: Your corporation.
BECK: -- we gotta make sure that their performance is good so that -- so they are not taking obscene amounts of cash, like with the AIG people --
DOOCY: Sure.
BECK: -- it's 165,000.
DOOCY: All the way from --
CARLSON: Million.
KILMEADE: Timothy Geithner will decide how much you should make.
DOOCY: Sure.
BECK: Right. OK, so let me just get this right. So if you are taking government money -- let's just say like you are in Congress and you don't perform and your business isn't doing well, then you should make less than -- what does Congress make -- $174,000 a year.
Oh, and by the way, if you work two years you get a portion of that for the rest of your life. If you work 11 years you get all of it for the rest of your life. Oh, and you get free health care. OK, so these are the guys to regulate. And they are the guys who know about performance.
I can't figure this out. Is Beck appearing on Fox and Friends to seem intelligent compared to the show's three chair moisteners who pose as hosts?
Or are these three having him on so that they can feel intellectually superior?
And is there enough electrical activity in their four brains combined to power an LED?
Now now worrierking, no need to make fun of the children.
You know they can't help themselves...
As for Fox in general... I have said it many times before and will continue to do so with every thread that I am able to have time to read and reply.
But FoxNoise and corporate owned media in general...
Are legally allowed to lie!
Just Google: Fox News Lie Legally Florida
I think it is the second link offered that explains it quite well!
A Loser Empowered Diode?
maybe doocey was tired of trying to look like the smart one.
and perhaps they figured Beck could get Carlson to cry her eyes out.
i sense a worst person in the world trifecta for (and i say this shuddering) fox and friends.
The govt. is gonna set my salary? That's gonna be a welcome change from letting the company owner do it. Just a few examples of what I've been through the last 8 years:
Considering that more and more Fox News anchors are issuing on-air apologies for false statements, it's probably just a matter of time until the Fox News Logo appears on the couch to say sorry to America on behalf of itself and all the other false Fox graphics.
Does this mean that MMFA is maybe working. these screw balls are maybe lokking for "the truth" before spouting off at the mouth. Just a thought. :)
And if you've ever been to a restaurant where FOX on the tv(s), you'll notice the sound is low and all you have to go on is the chryon.
ahh, now i see. i had not been reading chryons. man, there are now words for just what d!(&heads they are at fox. i believe in a free press but do they really qualify as the press?. JK.
Ever read any of the wingnut posts here? Don't sweat it. You could transcribe your dream-state ramblings and still look like a genius by comparison.
no you made a very good point and i think hit the crux of the issue.
peace4all: "i am not sure i understand the point of this story".
"i also understand that the vast majority or fox viewers will not have heard that this only applies to companies that took bailout money".
so, what is it you don't understand?
The idea, peace, is to scare people into thinking the Big Bad Democrat Government (tm) is coming after them. Anyone want to start a pool on the date when Brother G. Gordon Liddy gets back on Fox to give us his "head shots" advice again? After all, now that the Democrats are in charge, the government is evil again...
Ooooh, look! Another mindless dittohead who's a slave to the machine calling us slaves to the machine! But if you want a return to right wing fascism, Iran is nice this time of year. We "whining socialists" prefer to stay here and fix the mess your buddies created and return America to the great country she was.
Snoopy dude. That's lame. If you're going to criticize a libertarian point of view, the least you can do is find some terms that actually fit. Fascism "is a political philosophy, movement, or regime that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition." (From Websters dictionary). As a libertarian I am about as far opposite of that as you can get. Where are the adults on this website?
And to finish the response...
So let's talk turkey, Mr. Libertarian. Do you favor government surveillance of all your electronic communication? How about the government banning abortion? And a little on same-sex marriage--should the government go around banning it?
Or is your so-called libertarianism nothing more than than a taxation-allergy so bad you need an epi-pen if you have to pay sales tax? Inquiring minds want to know!
Well, we're agreed then. Maybe there is at least one thinking person on this website. Let the government stay out of our bedrooms and our wallets. Now go ahead. Let's hear your shared concern with the government bailing out businesses, setting compensation limits and otherwise taking control of any form of private economic activity it sees fit in the name of fairness or security. Or is your "so-called libertarianism" limited only to personal conduct?
People willing to trade their freedom for temporary security deserve neither and will lose both - Benjamin Franklin.
ok you want an adult.
allright here ya go.
while i dont agree with alot of policies that had been taking in the past and im feeling uneasy about current ones being taken.
i feel better that something is being done. or at least attempted.
if we were going to become socialist i think president obama would be impeaced in a heartbeat. no matter what.
as for your qupting benjamin frankling......many of W. and Dick's policies embodied that very thing. they spied on us. they ran the econonmy into the mariana trench.
now im hoping that whatever action is taken that once things are better. then we can dial it back.
If you want to be treated like an adult maybe you shouldn't start out your argument with insults and calls for people to leave America if they don't fit your idea of what an american is. Just sayin'...
I bet you're a Scorpio.
hey im a scorpio!
not that there's anything wrong w/ that.
Careful now, Victor. I'm a scorpio - and damned proud of it!
Well, you've got some good company, too; TheJBomb, Barbara Boxer - they sort of offset jhrhilltop.
I did a scorpio once and got stung.
I've got a better idea, why don't you just bite me?
i have two words for you buddy.
Michelle Bachmann....
now which one of us is living in " The MAtrix"
Ah, but Mr. jbomb, don't you know that violent revolution is patriotic when a Democrat is in office?...
ive got more patriotism in a certain part of my anatomy that begins with a D and i wont say the rest in the interest of being a decent human being, than that moron above and the entire incarnation of the "Republican Party"
for the love, Would you rather have the REPUBLICANS running things?
there is a reason i rail against Fixed Noise.....CAUSE THEY LIE. daily, constantly, every chance they get. 95 percent of what comes from their mouths is bull. if they gave honest reporting i would have no problem shutting up. but given the fact that they are the mouthpiece of the neo cons i dont ever see that happening.
And a friendly welcome to you, hilltop. Your opening lines prove only one thing, you are afraid to be here. Why are you afriad? No one here bites.
Personally I don't think I am a slve. Why do you feel that way about yourself? Gosh darn, do you know what socialism really is...sorry, ended the sentence incorrectly, may I correct it...do you know what socialism really is...@ss hole.
If you take government money, the government should be able to apply conditions. It's simple contract law. If you don't like the contract, don't agree to it. As for Congress, I have always thought they made too much money when you take into consideration all of their perks and benefits along with the salaries. Maybe congress should have to take a cut in pay when they screw up. Or, how about letting an independent oversight set the rates of pay rather than letting congress vote their own raises. I digress.
Zam, I'm not clear on the first sentence of what you posted. Do you mean any Govt money, Fed, State, local, or just the money from this nonsense bailout?