THE INFINITE ARM OF O'S 'PAY CZAR'

NY Post ^ | August 19, 2009 | Michelle Malkin

[Scanian]

'PAY Czar' Kenneth Feinberg's official government title is "special master for compensation." You'll be happy to know that he's really getting into the confiscatory spirit of his role. Asked by Reuters if his powers include reaching back and revoking bonuses awarded to financial-industry executives before his office was created this year, Feinberg asserted broad and binding authorities -- including the ability to "claw back" money already paid out.

Regulations governing his office explicitly limit his jurisdiction over contracts signed before Feb. 11, 2009. But the fine print is no obstacle to President Obama's czars. "The statute provides these guideposts, but the statute ultimately says I have discretion to decide what it is that these people should make and that my determination will be final," Feinberg claims. "Anything is possible under the law."

Yes, he said "anything." It's not just senior execs who fall under Feinberg's purview. "These people" also includes "the next 100 most highly paid employees" of all bank-bailout recipients, who must file compensation proposals with their pay overlord by Friday.

But why stop there? The Troubled Asset Relief Program has morphed from a toxic-asset buy-up to a capital-injection plan and back to a toxic-asset buy-up. The money has been doled out to auto-supply companies and life-insurance firms. Congress wants to siphon off more of it to bail out bankrupt California and create a "national housing trust fund" to bail out low-income renters. Grabby-handed politicians have used TARP as a crowbar to pry open new areas for command-and-control meddling under the guise of saving the economy.

How much longer until the pay czar is determining all corporate pay he wishes to deem "inappropriate, unsound or excessive"? House Financial Services Committee Chairman Barney Frank has yapped all year long about extending pay curbs to all financial institutions and perhaps to

[livius]

This is incredible. What I don’t understand is how this is legal in the first place, and why the executives in question are not complaining more vocally about it. Even if these companies did accept “bail out” funds, in some cases unwillingly, most of them are still technically not owned by the government and I don’t know why they’re accepting this so quietly.

[PubliusMM]

The czar concept is clearly outside the bounds of the Constitution and this should be driven home by the pubbies at every turn, at every opportunity. But, sadly, they are part of the problem...

These positions are NOT authorized anywhere in the Constitution and should have NO legal responsibilities, authorities or powers. To leave these in place is but another slap to the face of the American people by the anointed one’s continued use of the Constitution as a doormat to the White House.

It’s time to take back the country.

[Venturer]

I thought the same thing as you. That these jobs are illegitimate. Yet they speak of regulations that these Czars work under. What are the regulations and who wrote them? Possibly the same guy that names the Czars. Is Obama writing his own laws now?

[Leftism is Mentally Deranged]

The right word is commissar, not czar, but either way it’s illegal.

[WOBBLY BOB]

Hear the children
Don’t turn around, oh oh
Der Kommissar’s in town, oh oh
He’s got the power
And you’re so weak
And you’re frustration will not let you speak

Don’t turn around, oh oh
Der Kommissar’s in town, oh oh
And if he talks to you
Then you’ll know why
The more you live
The faster you will die

After The Fire - Der Kommissar
http://www.youtube.com/watch?v=Guvo7gUdUnE