Tuesday, June 16, 2009

Executive Pay Ceilings

Thursday July 11, 2009
From Jimm Kuhnhenn for the Associated Press, by way of Yahoo Finance:

WASHINGTON (AP) -- The Obama administration struck a delicate balance on executive pay Thursday, blaming flawed compensation packages for encouraging disastrous risk-taking but insisting it doesn't want to dictate how corporations reward their top people.

Gene Sperling, a top counselor to Treasury Secretary Timothy Geithner, conceded to a congressional committee that imposing compensation caps on companies could lead to a flight of talent.

"I can say with certainty that nobody in the Obama administration is proposing such a thing," he said.

...Yet. The current administration, when it comes to socialist policies, has already proven itself capable of sacrificing the national good for political expediency. I'm about to the point where I hear "no one is proposing this," and in my head I hear, "...but we will float it now and seriously come back to it when the time is right."

Where have you gone, America? We'll have to ride this administration out through 2012, but we can still neuter its political effectiveness in the next midterm election. Are you concerned? If you are, don't wait until the general election to get active. If you aren't, look forward to less purchasing power and even higher unemployment, and let the real adults handle the real crises.

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