How far will YOU go?

[fantastic_jackie]

Do y'all remember when crazy cons like me were all outraged at the idea that the government would be controlling the salaries of corporations and the liberals were all like, "Oh, you fearmongers. It's only for companies that took the bailouts. It won't ever go any farther than that. You conspiracy therorists..."

Of course, they conveinently ignored the quote from... Barney Frank, was it? Who said that he wanted Congress to have oversight over all executive salaries and bonuses.

Well, the Fed - oh geez, I think I have libertarian-like knee jerks to just mentioning the Fed now... - is now stepping up to the plate with a plan...

Fed Outlines Plan to Police Bank Pay

The Federal Reserve would police banks' pay policies to ensure they don't encourage employees to take reckless gambles like those that contributed to the financial crisis, according to a proposal unveiled Thursday.

Unlike a Treasury plan to slash pay at certain companies that were bailed out with large sums of taxpayer money, the Fed proposal would cover thousands of banks, including many that never received a bailout.

The Fed would not actually set compensation. Instead, the central bank would review — and could veto — pay policies that could cause too much risk-taking by executives, traders or loan officers.

Okay. Exactly how FAR does this administration have to go before liberals finally say, "Uh... Hey... What? Now wait a second..."

You're going to tell me the only way you can ensure that this kind of economic recession won't happen again is for the federal government to control how much executives are paid?! You're going to tell me that such will even have an effect on preventing recessions?!

And it has to be the FED??!!

I thought we believed in freedom in this country!!

WHAT HAPPENED TO THE CONSTITUTION?!

Comments

[xxdesert-rose.livejournal.com]

Girl please I'm not offended. Not in the least bit. If anything I thought I was going to offend you or Jackie. I have a bad habit of putting my foot in my mouth but you already know that and so does Jackie. I think I shall call you later on this evening. I've been meaning to call you but I've been busy with work and what not.