March 31, 2009 11:37 AM
Government aims to set salaries
From today's Washington Examiner - which seems to find news the Washington Post isn't interested in:
Beyond AIG: A Bill to let Big Government Set Your Salary
By Byron York
Chief Political Correspondent 3/31/09
House Financial Services Committee Chairman Rep. Barney Frank, D-Mass., left, talks with Treasury Secretary Timothy Geithner, right, and Federal Reserve Chairman Ben Bernanke, on Capitol Hill Tuesday, March 24,2009. Frank's committee has passed a bill giving Geithner extensive control over salaries of employees working at companies receiving government bailout funds. (AP Photo/Evan Vucci) It was nearly two weeks ago that the House of Representatives, acting in a near-frenzy after the disclosure of bonuses paid to executives of AIG, passed a bill that would impose a 90 percent retroactive tax on those bonuses. Despite the overwhelming 328-93 vote, support for the measure began to collapse almost immediately. Within days, the Obama White House backed away from it, as did the Senate Democratic leadership. The bill stalled, and the populist storm that spawned it seemed to pass.But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.
Read entire article here.
Posted in Obama Nation | Permalink
Comments
I guess there really is no such thing as a free lunch, right?
Do we really want to be taking money from the government when they have shown they will use it as a pass to completely control us?
Posted by: Lauren | March 31, 2009 12:36 PM
Everyday just gets a little worse......and it sickens me--literally.
We sit at dinner most evenings and talk about the day's events, with my husband enlightening us and helping us to see the big picture of it all, and I've noticed my appetite lessening and just a bit of an ache in my gut.
I wonder if anyone else gets "sick" feeling over this mess?
I'm so thankful that I KNOW God and that He is BIG and GOOD!!! He is my Father and I know He loves me, so I trust in Him and remember He is faithful.
Barbara, God Bless You!!! for tackling all of this each day and sorting it out for us.
Posted by: von | March 31, 2009 6:32 PM
