Wednesday, February 04, 2009

Obama Caps Bailed-Out Executive Pay

"If you lie with the devil, be prepared to play by his rules" or "can't have your cake and eat it to." Pick your cliche.

Today's announcement imposes $500,000 caps on senior executive pay for the most distressed financial institutions receiving federal bailout money. Did these prima donnas think it would be otherwise?

It is obvious they either did not study or participate in a college public relations class. Perhaps they forgot. You don't take private plans to your congressional hearings. You don't give yourselves huge bonuses for your failed business models and execution.

Certainly it will impact the financial talent pool in New York, Chicago and San Francisco. Some may elect to take their "skills" and move out of the country. In fact I expect it will happen, despite the political grandstanding. With the second highest corporate tax rate in the civilized world and a growing socialist government, I would expect to begin to see more and more business talent move their headquarters to more business-friendly nations.

The bailout was wrong to begin with. This earnings cap is one of the results of Obama's 'going Marxist' program. Take over the key industries, socialize the medicine. The blue print is well-known and well-demonstrated.

Did those that voted for Obama vote for the Marxist change inherit in his plans -- the plans of his party power-brokers ? I suggest that more people voted for anyone other than another Bush, and that person just happened to be a smooth talking Marxist.

Let's just say "beware of false prophets, who come to you in sheep’s clothing, but inwardly they are ravening wolves." Most politicians fit this mold; it just fits Obama to a tee.

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