Tuesday, February 3, 2009
You asked for it, you got it.
I am not happy about this recent move by the Obama White House, but I also hardly blame them. Currently the federal government is considering placing salary caps on top bank execs for the banks that have taken federal money in the bailouts. On the one hand I agree that something needed to be done with the crazy pay that is driving the companies into this sort of crisis, but I am not a fan of the government taking this much control in business. I am not surprised this happened as this is just another step towards the Obama Socialist Republic of America. At the same time, if the government is going to try and help things out, and if in fact this is a temporary bailout, then a temporary pay cap is fair and in order.
When the car companies sued the federal government over forced regulations on vehicle emissions regulations after taking the tax payers money to stay afloat I wonder where these companies get the nerve to bite the hand that feeds them? You asked for the government to come in and save you, to fix your problems for you? Yes the feds are taking over your business, but you forfeited your right to operate your business freely when you took the money. Sorry, but I have very little sympathy in this case. Maybe, just maybe, the audacity of my hope is that companies won't ask for money in the future knowing that the government is simply going to come in and tell them how to run their business.