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

[patriot-jackie.livejournal.com]

Oh, I agree. I don't believe that there were 2 million. 1.6 is my highest that I'll believe, thus the reason I use it. 1.7 maybe if you count all the people that came and went throughout.

LOL It's funny the idea you have of the Republican party. I've left it, but I was heavily involved before, even as a delegate. There are deep, deep divisions, and if Lindsey Graham hadn't just been re-elected, he would be in serious danger of losing his seat for the things he's said to his constiuents lately.

[fishphile.livejournal.com]

Well, Lindsey comes from a very, very red state. But truth is he's pretty moderate. Throughout the country and the entire Senate, Lindsey has a lot of influence.

Also, I've seen video of some of those exchanges between the Senator and his constituents and he is a better Senator than I could ever be not to just roll his eyes and walk off the stage. The stuff people have been bold enough to say at these Town Hall meetings is....special.

There are deep divisions within the Republican party. Mostly, it's struggling to find itself again. It really needs to connect to its earliest roots. That said, I still think they'd vote a bill in quicker than the Democrats. I really believe that. I think the Dems don't have the identity crisis Republicans are having, but they worry too much on pleasing every single person in their party.

I don't think Republicans do that. They come to a rough consensus and then go for it.