Sunday, March 22, 2009

Socialism, or Communism?

Administration seeks increase in oversight of executive pay
IHT, Stephen Labaton Published: March 21, 2009
WASHINGTON: The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said....

....The new rules will cover all financial institutions, including those not now covered by any pay rules because they are not receiving U.S. government bailout money. Officials say the rules could also be applied more broadly to publicly traded companies, which already report about some executive pay practices to the Securities and Exchange Commission....

Look for more companies to go private, thereby limiting the investment opportunities of the "middle class" and further creating a wealth gap. This is crazy talk and our founding fathers have got to be rolling in their graves! This is simply class warfare at it's worst!! God help us all if this kind of talk persists and it acted on!

How long will it be before government insists on seats on the boards of directors of publically traded companies?

Read Atlas Shrugged


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