Wednesday, February 4, 2009

Why I Hate Obama's Decree on Salaries

I loved the initial premise of Obama's decree on salaries made today.

But as he finished out his decree, I found something that I am extremely leery of to say the least.
And finally, these guidelines we're putting in place are only the beginning of a long-term effort. We're going to examine the ways in which the means and manner of executive compensation have contributed to a reckless culture and a quarter-by-quarter mentality that in turn helped to wrought havoc in our financial system. We're going to be taking a look at broader reforms so that executives are compensated for sound risk management, and rewarded for growth measured over years, not just days or weeks.
This looks like a continuation of common sense practices that he was extolling in regard to companies that had received government funds. But, in conjunction with some of Barney Frank's slobberings today, this smacks of a long term look at attempting a greater move toward central economic planning, and exerting further governmental control over all businesses, not just those receiving federal emergency aid.

A dangerously slippery slope indeed.

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