Posted on 03/21/2009 3:32:44 PM PDT by governsleastgovernsbest
“The new rules will cover all financial institutions, including those not now covered by any pay rules because they are not receiving federal bailout money.” — Administration Seeks Increase in Oversight of Executive Pay, NY Times, March 21, 2009 [emphasis added]
Under the Obama administration theory of never letting a good crisis go to waste, it looks like PBO is planning to exploit popular outrage over the AIG bonuses to impose compensation limits not merely on employees of firms receiving bailout funds, but on those of all financial institutions.
This is nothing less than wage controls. And of course we know the last president to try this [to no good effect].
(Excerpt) Read more at finkelblog.com ...
Barack Milhous Obama ping to Today show list.
Nixon loved his country enough to resign wish obama would
And, gee BO, didn’t work!
PBO?
I see BO as being more like a Jimmah Cahtah on steroids. Instead of being associated with peanuts, BO has a preference for ACORNS.
Nixon also loved his country enough to not contest the presidential election that was stolen from him by the Kennedy-Daley machine in 1960. Too bad Al Gore didn’t have the same sense of patriotism and honor in 2000.
Can price controls be far behind? After that comes the shelves half bare...then bare. If you’re in the party, you’ll have special shops with special foods. On the street people will ask to see your union card.. if you don’t have one, “NO SOUP for YOU!”
I have a great idea. Let’s let the overly intelligent and fine folks at ACORN run our financial sector. When they drive all the talented people out of the business, I guess SOMEONE will have to run these organizations.
President Barack Obama. It’s an abbrev. other bloggers and I have adopted. I don’t want to be disrespectful to the office by writing “Obama,” by using “Pres. Obama” every time seems onerous.
Milton Friedman is rolling in his grave.
Off topic- sorta- a friend of mind said she’d heard on Morning Joe this week that several DEMOCRAT senators were planning to meet with the president and try to “reason” with him about his budget etc. Did you hear anything about this?
Have not, but will keep my ears open this week.
Were I an optimist, and had I reason to believe that Obama is intent on “doing what works” rather than implementing his own, ACORN-Alinsky-Jeremiah-Wright version of collectivism (BY FORCE), I might assume that this will be merely a regulation which gives shareholders more direct say on executive compensation.
But, yeah, at this point I think Obama is about to kick the US economy right in the balls while it’s already down on the floor with a bad-credit kidney stone.
Jimmy Carter signed into law some important deregulation and changed monetary policy at the Fed for the better. In 2012, we’re going to be begging for a President like Jimmy Carter.
I’m not at all surprised, not all Democrats are collectivist stooges who want to bankrupt the entire country just to “justify” total socialization.
“In 2012, we’re going to be begging for a President like Jimmy Carter.”
That’s one of the more frightening predictions I’ve heard in a while.
LOL—nicely done. Let it be soon!
BBC
Barack Baines Carter
HR 875
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