Don't you just hate that plumber that makes too much money, even as he cleans out your mess at 3:00 AM? How about that stupid clown that fixes your car because he was too dumb to go to college, but now has a nicer home than you? Well, now you can hate them for real and maybe get Congress and the President to satisfy your hatred by regulating their pay. It's outrageous that some doctor can charge so much for that emergency surgery, especially because the patient has a drinking and driving problem. And no insurance. Doctors make too much money.
Social engineering through economic punishment or how governments screw up economies by pandering to the public.
Administration seeks increase in oversight of executive pay
The new rules will cover all financial institutions, including those not now covered by any pay rules because they are not receiving U.S. government bailout money. Officials say the rules could also be applied more broadly to publicly traded companies, which already report about some executive pay practices to the Securities and Exchange Commission. Last month, as part of the stimulus package, Congress barred top executives at large banks getting rescue money from receiving bonuses exceeding one-third of their annual pay.
Beyond the pay rules, officials said the regulatory plan is expected to call for a broad new role for the Federal Reserve to oversee large companies, including major hedge funds, whose problems could pose risks to the entire financial system.
Obama, et al are using AIG and others to implement what they intended all along and now that some corporations can be blamed, it gives Obama cover for implementing government control. His Swedish Model. Socialism.
How else would one describe a form of government that doesn't just tell business what they can't do, but also what they must do and how they do it?
