Seriously, this is complete bull****. Who in the world voted for this guy?

Government controlled healthcare: in progress
Government controlled automakers: complete
Government controlled banks and financial institutions: in progress
Government increased spending: complete
Government desire to decrease military spending: in progress

We're going to be France in a few years!

Quote:It was nearly two weeks ago that the House of Representatives, acting in a near-frenzy after the disclosure of bonuses paid to executives of AIG, passed a bill that would impose a 90 percent retroactive tax on those bonuses. Despite the overwhelming 328-93 vote, support for the measure began to collapse almost immediately. Within days, the Obama White House backed away from it, as did the Senate Democratic leadership. The bill stalled, and the populist storm that spawned it seemed to pass.

But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.

The purpose of the legislation is to "prohibit unreasonable and excessive compensation and compensation not based on performance standards," according to the bill's language. That includes regular pay, bonuses -- everything -- paid to employees of companies in whom the government has a capital stake, including those that have received funds through the Troubled Assets Relief Program, or TARP, as well as Fannie Mae and Freddie Mac.

The measure is not limited just to those firms that received the largest sums of money, or just to the top 25 or 50 executives of those companies. It applies to all employees of all companies involved, for as long as the government is invested. And it would not only apply going forward, but also retroactively to existing contracts and pay arrangements of institutions that have already received funds.

http://www.washingtonexaminer.com/politi...58597.html

(03-31-2009 10:16 PM)STLouis Blazer Wrote:  Seriously, this is complete bull****. Who in the world voted for this guy?

Government controlled healthcare: in progress
Government controlled automakers: complete
Government controlled banks and financial institutions: in progress
Government increased spending: complete
Government desire to decrease military spending: in progress

We're going to be France in a few years!

Actually, no, we won't be France.
French bureaucrats are for the most part competent and honest.

(03-31-2009 10:28 PM)Owl 69/70/75 Wrote:  

(03-31-2009 10:16 PM)STLouis Blazer Wrote:  Seriously, this is complete bull****. Who in the world voted for this guy?

Government controlled healthcare: in progress
Government controlled automakers: complete
Government controlled banks and financial institutions: in progress
Government increased spending: complete
Government desire to decrease military spending: in progress

We're going to be France in a few years!

Actually, no, we won't be France.
French bureaucrats are for the most part competent and honest.

.