More Proof Liberals Don’t Under Reality

J.J. Jackson* | April 21, 2007

Filed Under Conservative Musings, General Goofiness, Liberals

White House opposes bill that would give shareholders ’say on pay’

Globe and Mail
AP. WASHINGTON — The Bush administration is opposing a bill before the House, pushed by Democrats, to give shareholders at public companies a formal say in executives’ compensation packages.

And well he should. Here’s why.

“Shareholders” already have a say in this sort of thing. They do this in a couple of ways.

Note: I am going to provide a very simplified explanation of these ways which could be expounded up with pages and pages of more precise explanations. So don’t start nitpicking over how simple the explanation is. Because while simplified, it is still accurate.

First, if they have enough votes to effect who is and who is not running the company they can effect salaries that way by putting into place officers that will adopt their standards. Second, if they don’t like how much executives are being paid and think that such salaries are eating into their dividends and profits they can sell their shares and invest elsewhere. If more people sell than buy the stock price crashes and the company is in trouble.

DUH! All this is is the latest attempt by liberal Democrats to exceed the mandated and limited powers of Article I of the Constitution and expand government power. This is an issue of contracts. And you will note that the federal government is not given the power to interfere with contracts freely entered into for legal services.

Will the left ever stop the grabs for power? Nope. Not as long as there are enough ignorant and stupid people to vote for them.

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