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Barney Frank has introduced a bill in congress that would give the Government authority to set the salary of EVERY SINGLE employee of companies who have utilized government capital aka bail out funds... Frank's policies are a large part of why we are in this mess doesn't seem like this was all planned? Force low standards on lending....greenlight the securitization and selling off of government chartered debt....watch it infect the banking system....give hand outs to sick banks....impose complete control over those banks now that they owe billions of dollars. Barney Frank is as much to blame for this economic mess as anyone on Wall Street or in Washington Huntsville and he wants to use the crisis that he helped create to take total control of the companies that his policies put at risk...It's like a sick little toad who wants to show all the giants of industry at the private organizations that keep this country moving in a positive direction that the dimwits in Washington are going to take over their jobs by force. Barney Frank should be tarred and feathered on the steps of Capital Hill and sent to jail for crimes against society and abuse of power. He is the most detestable type of politician I can imagine exists...the type who causes problems with his ignorance and then uses the damage to his own benefit...all while blaming others.
The idea that the failing of these companies will set off a massive depression is a falacy....they told us the exact same thing when GM and Dodge came hat in hand two months ago...they gave them 30 billion because they couldn't afford to fail....now GM is talking about going into Chapter 11 bankruptcy....so the 30 Billion dollars was wasted and the end result is still the same...And you who said people don't get to demand better pay....your right...no one will be paid better for better work...so no one will work hard...and the country will slowly diminish under th guise of "fairness"..."THE ROAD TO HELL IS PAVED WITH GOOD INTENTIONS" this policy of taxing the producers to provide to the challenged will not stop until the last bone of the last taxpayer is picked clean and their is nothing left to take...the envious ones who have not suceeded will continue to elect those who will take from the producers in this country until their is nothing left...socialism is a failed principle.
I agree. that goes for all of Obamas cabinet. whats he thinking electing the former federal reserve. what a joke. thats how our government or better yet a combination of the bankers and government always work. they did a similar thing to create the first depression and they are doing it again. heres what ya do. April 15 come join American on the new tea day protest. ill give you a link all you do is pick your state and find one in your area. we need protesters from evry state. lets start the revolution!!
Theoretically, the alternative to government intervention with these failing companies is a possible economic depression and maybe even a total economic collapse. That being said, the government "nationalization" as you call it is required for these large companies to keep the economy functioning. As long as these companies are being supported by tax dollars, I do not oppose salary caps. Why should these companies see large profits while being funded by our tax dollars? When they no longer require government assistance, then they can return to making whatever profits and paying whatever salaries they want. It seems like this country's government is a take action government no matter who is in office. After 911, Bush decided to go to war with Iraq to protect the country from future terrorist attacks. Many people disagreed with this government action. Obama has decided to take on the current economic crisis with government action, and many people are opposed to it. Very interesting parallels between these two costly decisions but it seems as though both Presidents care about this country enough to make these tough unpopular decisions.
Wow, people are going to have to actually work to make a living? Who is every one else to demand that?! I just want to sit on my @ss and party while at "work" pretending to do something. Come on, sitting at a desk for a limited part of the day really wears on the old tosh, I should be compensated more then any one else for that! Get over the whole demanding what you want for salary just because you partied longer in college and spent more to take more later. This system of government has been deplorable for a long time, far be it that the American people want something that is more fair. Better this way then civil war, isn't it?
And the government continues to try and expand it's draconian control over business. My question is when do we demand that Congress take a pay cut? When do we link their pay to performance? Maybe we should make it contingent on how many days they actually spend working. The free market is being systematically destroyed. And Nero fiddled while Rome burned! Kevin M: You should really read the article before commenting. "The bill passed the Financial Services Committee last week, 38 to 22, on a nearly party-line vote. (All Democrats voted for it, and all Republicans, with the exception of Reps. Ed Royce of California and Walter Jones of North Carolina, voted against it.) The legislation is expected to come before the full House for a vote this week"
Relax .... it's Barney Frank. This bill won't go anywhere but to the dump.
Comrade! You are obviously not worker or are much scared to watch the exploitation of the masses by greedy Capitalists come to end. One thing that is not tolerated anymore is decent. It sounds to me like you are in much need of many years in reeducation camp for benefit of society. My fellow workers have a saying, "They pretend to pay us, so we pretend to work." You are witnessing history my friend and I wish you well. May your grocery and gas lines be short!
Dude, Just sit back and watch the disaster. The Republican Party will eventually pick up the pieces.