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]

Forgive me if I sound like a pessimist but America did this to itself. America gave up on what it was originally fouded on long before Bush or Obama came into office. We were headed for a cliff long before either of them became President.

It's easy to place blame on our leaders (past, present and even future) but we (I mean everyone) had a hand in this as well. I actually think the blame game is getting pretty old.

We all know America is screwed up as a country. We haven't exactly followed any of the founding fathers' advice now have we? We kicked God out of school, basically let marriage fall by the wayside (we've got a pretty high divorce rate), have done nothing positive or encouraging for our children (our eduacational system is a joke compared to other educational systems of the world), lied, stolen, cheated, raped, murdered and did anything else we could think of that wasn't morally right.

The bigger question is this, "Can we all put aside our differences and work together for a change?" I mean things aren't going to get any better if we're constantly divided. Not you and me or you and orphanage. I mean EVERYONE. It's easy for Republicans to be on one side, Democrats on another side, liberals to be somewhere in the middle, etc, etc.

Honestly I think we needed this economic downturn to teach us a lesson. We already had a bad reputation as a country and we were only making it worse. Now that we see how bad it's gotten, we suddenly want to jump up and try to do something about it. Too little, too late if you ask me.

America needed to learn their lesson the hard way and that's why everything is falling apart right now. Sorry for being so pessimist. Believe me I'm not saying everything is all honky dory and I'm not disagreeing with you or orphange. I'm just saying I'm of the opinion that this needed to happen for us to realize the shape our nation was in.

[fishphile.livejournal.com]

Eh. Truth is Democrats screw themselves over. I've been joking that whether I agree with Republicans or not, they know how to get things done.

Say the goal is to pass a bill to give all Americans a red balloon. Americans have been polled and say 57-71% agree that every American needs a red balloon, despite their ideology.

You put 3 Dems in a room:

1. Will think the red balloon idea is great.
2. Will think that Americans really need blue balloons.
3. Will argue whether or not Americans even need balloons.

They'll all vote differently. Nothing will pass. Or if it does it won't resemble the original red balloon for all Americans idea.

Republicans in a room:

All of them might disagree but if it's settled that Americans (even if there are a sizable number that disagree) need red balloons they are going to vote for red balloons, dang it!

And there is no way there were 1.6 million people during the tea parties in D.C. I watched most of Fox's coverage and C-Span's and Fox New's own Glenn Beck put it at tens of thousands.