RSSWe Don’t Want To Control You … But We Will Anyway
J.J. Jackson | June 11, 2009
Liberals are adept at talking out of both sides of their mouths. Barack Obama as President is taking this whole game of do as I say, not as I do to a whole new level with regards to further expanding government power more and more into the realm of unconstitutionality. We all know the claims well because President Obama makes sure to state the Big Lie at every opportunity; he doesn’t want to run companies. That is what he says. Especially when it comes to the automobile companies. But what he and the liberals in congress are doing belies these words.
The left is busily stumbling ahead trying to set pay for employees of companies, essentially seeking to run them.
WASHINGTON (AP) — The Obama administration struck a delicate balance on executive pay Thursday, blaming flawed compensation packages for encouraging disastrous risk-taking but insisting it doesn’t want to dictate how corporations reward their top people.
Gene Sperling, a top counselor to Treasury Secretary Timothy Geithner, conceded to a congressional committee that imposing compensation caps on companies could lead to a flight of talent.
“I can say with certainty that nobody in the Obama administration is proposing such a thing,” he said.
Yet, at the same time, he and officials with the Federal Reserve and the Securities and Exchange Commission laid out a case for how payment structures rewarded short-term gains at the expense of long-term performance and contributed to the nation’s financial crisis.
The administration plans to seek legislation that would try to rein in compensation at publicly traded companies through nonbinding shareholder votes and by decreasing management influence on pay decisions.
Thumbing through my pocket Constitution I am having trouble finding anywhere the authority granted to anyone from Congress to the President to unelected bureaucrats heading federal agencies to undertake these actions. This has always been a problem for the left. But they have a solution that works well. When asked for the justification and the authority they just whip out their keys and jingle them in front of the American people. And like simple minded fools, the majority of Americans become promptly distracted and forget all about that pesky Constitution thingy.
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