Democrats slipping in pay punishment
Democrats have for some time wanted to punish America’s CEOs for their staggering pay packages, and now they may have a chance to slip such a measure into legislation aimed at staving off the banking crisis.
House Speaker Nancy Pelosi today said, “Democrats believe a responsible solution should include independent oversight, protections for homeowners and constraints on excessive executive compensation” (emphasis added).
So although so-called ‘excessive’ executive compensation has little or nothing to do with current economic woes, the Dems want to seize this opportunity of panic and desperation to push their leftist agenda.
(By the way, who is Pelosi or any other politician to decide whether someone’s pay is ‘excessive’? The ironic thing about her philosophy is that voters theoretically have the power to decide whether her pay is ‘excessive’ – and in fact by the measure of a standard no less arbitrary or mysterious than hers, I think it is. But despite massive government takeovers of failing banks and investment houses, the last time I checked this was still a market economy, and that includes wages. Perhaps someone should remind Mrs. Pelosi that she is not in France.)