After a busy Saturday I finally woke up my computer and checked Drudge to see if I missed anything. When I saw the headline “Obama will call for increased oversight of ‘executive pay at all banks, Wall Street firms and possibly other companies….‘” I felt a little sick.
The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said.
Are they going to define ‘executive’? Is this restricted to CEO’s and CFO’s or will it apply to any salaried employee? Where will they draw the line? Will they draw a line? (This does not apply only to companies that accept government funds, by the way.)
The administration has been considering increased oversight of executive pay for some time, but the issue was heightened in recent days as public fury over bonuses spilled into the regulatory effort.
Um, just who is it that stoked the public fury? Could it be the politicians who knew about the AIG bonuses but said nothing? Could it be the politicians that voted for the bonus payments when they voted for the CRAPulus bill without even reading it? Do they care that their demagoguery has put American lives in danger?
Pillars of the community are now pariahs fearing for their safety in a ritzy area of Connecticut home to many executives at American International Group Inc. (AIG), hit with a backlash over bonuses it paid to top brass even as it accepted federal bailout money.
The payouts to executives appear to have helped put a face on the economic struggles the country faces, and the anger targeting AIG is palpable. Death threats have been pouring in since the brouhaha broke, the company said, and its workers are taking no chances.
“It’s scary,” one executive said, speaking on condition of anonymity because he feared retribution. “People are very, very nervous for their security.”
The financial products division is in Wilton in Fairfield County, and many of the company’s leaders live in large homes on the “Gold Coast,” an area known more for golf courses and sweeping views of Long Island Sound than for the police cars that now regularly patrol the well-kept streets.
Corporate officials advised employees in a memo posted on Gawker.com to avoid wearing the company logo, in an effort to keep from drawing attention. Workers were also urged to travel in pairs at night and park in well-lit areas.
And typifying the preoccupation with the AIG payouts, a busload of activists plans to drive by executives’ houses Saturday in an attempt to deliver letters highlighting the strife of ordinary families in the recession and seeking solutions for economic recovery.
Not only are these nutjobs taking buses to the homes of AIG executives, Obama’s brownshirts are going door to door to sell his plans to tax, spend and borrow us into oblivion to their neighbors. And even though the non-partisan Congressional Budge Office reports deficits will be much higher than Obama projected, fiscal discipline be damned! Obama has no intention of scaling back his expensive agenda.
South Carolina Governor Mark Sanford requested from the Obama administration authorization to use the CRAPulus funds to pay down his state’s debt. The man is trying to do what is in the best, long term interest of his state. Before he received a response from the White House (they said ‘no’ by the way), Governor Sanford found out the DNC had launched attack ads against him. These days it seems no good deed goes unpunished.
Oh I almost forgot. I heard today that the CRAPulus bill has a requirement that anyone working on a CRAPulus funded project has to be paid at union wages and non-union companies will be blacklisted.
The government will dictate how much or how little we can earn. An army of people who pledge their support to their Dear Leader are coming to knock on our doors to tell us what to think. The government wants to stifle talk radio. They vilify anyone who philisophically disagrees with them. All the while Dear Leader carries out a permanent campaign.
Although many of us saw this coming, witnessing it all is quite unsettling, to say the least. I sit here, shaking my head, wondering what we’ve become. It reminds me of the stories I’ve read about the Soviet Union, Nazi Germany, Cuba and any other totalitarian regime I can think of. Have we become a banana republic? If you answered ‘no’, you may want to think again.
[...] The Lonely Conservative placed an observative post today on What Have We Become?Here’s a quick excerptAfter a busy Saturday I finally woke up my computer and checked Drudge to see if I missed anything. When I saw the headline “Obama will call for increased oversight of ‘executive pay at all banks, Wall Street firms and possibly other companies….’” I felt a little sick. The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said. [...]
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I don’t know if I fear the mobocracy that we are getting more than the thugocracy that I expected with this gang. Maybe it is just another form of the same thing. Nobody should be surprised.
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[...] And I quote: What is to become of this great nation of ours? What have we become? [...]
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That ‘lonely collectivist’ blog entry was really painful reading. I seriously doubt that person made it past page 25. I’m not seeing it in him/her to understand the list of chapters, never mind the rest of the book… well, that’s why some capitalist made a fortune off Cliff Notes and books for dummies, I guess. Shudder! Sorry I following that link!
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