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"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others." Ayn Rand | | Nobody's listening. |
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Meanwhile, Obama has officially appointed his compensation czar. Kenneth Feinberg will set the pay - salaries and bonuses -- for 175 top executives at the nation's largest companies that have received bailout funds. These include companies like Bank of American, Citigroup, GM and others. Then there is a second level of 80 other financial institutions that have received bailout money. Feinberg will come up with a compensation structure for these companies, but won't set the exact pay like he will for the big guys. He will also determine "whether it would be in the public interest to force any executives at companies receiving assistance who might have been overpaid to return some of that pay," according to the New York Times.
We want these companies to succeed, don't we? Do we not want them to get on their feet again and get out from under the government's thumb? Now maybe it's just me, but if I was calling the shots for a major corporation in deep dog squeeze, perhaps I would see the sense in going out there and finding the best executive talent I could find to help bring things around. So ... how's it going to work for me when I tell a potential executive recruit that I really, really need their help bringing my billion-dollar corporation around, but that Barack Obama is going to be setting their pay scale? They're going to go somewhere else, right? You don't have to be, like, all that bright to figure that one out.
Sittin' here just diggin' the change.
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