Thursday, March 19, 2009

Obama's Next Move: Regulating Compensation

PowerLine quotes the O-and-Savior.

People are rightly outraged about these particular bonuses, but just as outrageous is the culture that these bonuses are a symptom of that have existed for far too long; a situation where excess greed, excess compensation, excess risk taking have all made us vulnerable and left us holding the bag

(It would NOT have 'left us holding the bag' if we had simply flushed the toilet in the first place...but nevermind.)

It means that shareholders and board of directors have to hold executives more accountable for their compensation scales. You know, the fact that these guys are looking for bonuses having run down AIG begs the question of why were they making that much beforehand when nobody was criticizing them? ...

(Or taking campaign contributions from them?)

The financial regulatory package that we're designing as well as the economic policies that we want to put in place are going to put an end to that culture

...we believe in the free market. We believe in capitalism. We believe in people getting rich. But we believe in people getting rich based on performance and what they have add in terms of value and the products that services that they create

This street-hustler community organizer is going to determine "value-added" in products and services?

That's reassuring.

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