Obama to cap CEO pay, fascism at our doorsteps?

Indy Mind ^ | 2/4/2009 | arkady

[wardaddy]

If we bail them out , then are we not inclined to make sure they just pay themselves crazy salaries?

I admit as a responsible businessman with no bailout in sight I’m mixed on this.

[Gondring]

Actually, the bailouts are fascist economics (corporatism), not the salary caps.

[Lurker]

Thanks.

[Kickass Conservative]

Barrack Obama and Hugo Chavez, kindred spirits separated at birth.

So it is written, so it is done.

Wonder how many Obama voters are starting to get buyer's remorse knowing they elected a pencil necked Napoleon wannabe.

[hunter112]

This Rubicon was already crossed when the bailout bill was passed. When private industries suck down government resources, then they can expect to dance to the tune the new piper plays.

[penelopesire]

“Wonder how many Obama voters are starting to get buyer’s remorse knowing they elected a pencil necked Napoleon wannabe.”

I imagine his biggest donors on Wall Street(Goldman Sacs), are getting pretty nervous...lol.. They signaled as much today.

[jonrick46]

These Marxists think the bailout pays the ticket that gives way for big government nationalizing the corporations. Once again the tactic of class envy is the same old trick these Marxists use to dupe the public into going along with their action. They think this gives them the OK to control a huge sector of the economy. They have overstepped their bounds. And if the government does not like the fact that their bailout money does not give them the right to control private property, they do not have to give the bailout money.

We must remember that it was government action that caused the problem in the first place. It is too bad that the corporations couldn't sue the federal government for such legislation as the Commodity Futures Modernization Act (CFMA), passed in 2000 by the 106th Congress. We should hold President Clinton accountable for signing it. By a stroke of the pen the bucket-shop loophole was unleashed, which caused the Panic of 1907, and was outlawed to prevent today's events that is now destroying the world's economic system. This legislation unleashed the lethal effects of the misuse of credit derivative on the world economic scene.

The correct way is for the stock holders to set CEO pay. The stock holders decide what pay will bring in the necessary talent to make higher returns on the stock. Not the government. It is supply and demand. And it should always be supply and demand.

[jonrick46]

In my rant, I forgot to say your post is right on!

[DesertRhino]

Exactly, they should be in bankruptcy court. They want the government(my) dime,, and want compensation as though they were successful executives? They can bite me. Call me when salaries are capped on companies not at the taxpayers teat.

[stockpirate]

“beginning of fascism”

Too funny for words. Fascism has been alive and well in America for many years, just ask the US energy companies, auto industry, banking industry.

[arkadyka]

America actually had full blown fascism under Wilson and to an extent FDR.

However the nationalization of the nerve center of the economy (banks) is unprecendeted.

[stockpirate]

Actually, FDR liked Hitler’s brand of national socialism and the government did buy in to banks during the depression and at some point the banks paid the government back. But the socialists never gave back control.

[stockpirate]

I have posted the following article several times here on FR from mises.org check it out, the link is below.

“It is impossible to escape the parallels between Guenter ReimannÂ’s account of doing business under the Nazis and the “compassionate,” “responsible,” and regulated “capitalism” of todayÂ’s U.S. economy today. At least the German government was frank enough to give the right name to its system of economic control.
Here is the link for this article:
http://mises.org/story/47

[arkadyka]

I am well aware of FDR’s fascist penchant and his admiration of stalin, el duce, etc.

I Howell’s book ‘FDR’s Folly’ and it was eye opening, although Friedman pretty much exposed FDR and the federal reserve as culprits of the great depression.

I wasnt aware of any buying into banks, i know that they were heavily regulated including the 1935 glass-steagell act which was repealed in 1999 - and subsequently blamed fo rthe housing crisis by stupid liberals.

[arkadyka]

Hey Deuce,

I need to look into this CFMA, I read about the 1907 panic and even know about bucket-shops from my foray into options history. It sounds like this piece of legistlation if pretty damn important, hmm... Thanks for the tip :)