Welcome to post-free market America. I never thought it could happen this fast, but the current administration is working at breakneck speed here. I fundamentally disagree on every level with how the government is handling these financial institutions. When the government starts setting pay scales for private industry you have essentially become a socialist government. The average American seems to have no problem with this, but what if the government decides that one of these companies is not profitable because they pay too much in salaries to everyone, so they order a 50% paycut to all employees? Is that okay? Fundamentally its no different than what they are doing right now.
- US Set to Order Deep Pay Cuts at Bailed-Out Companies - CNBC
- Pay Czar to Slash Compensation at Seven Firms - WSJ
- US Plans Big Pay Cuts at Bailout Firms - Yahoo
And in other exciting news:
- Congress Light Bulb Law: Not So Bright - Heritage
- Debacle in Moscow - RealClearPolitics
- Even the Poor Slammed By ObamaCare - NewsMax
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