Democrats Introduce Bill To Control Pay For All Employees Of Companies Getting Government Money
Not just the much-maligned top executives, but every single employee at a given company.
...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.
Again and again I’ve pointed out that the “economic rescue” efforts of the liberals are less about economic rescue and more about a government power grab. Already the government is using the bailout money given to 523 banks nationally to pressure those banks into making the sort of loans the government wants (prompting some of those banks to give the money back). Obama and Treasury Secretary Tim Geithner want Congress to grant the authority to take over any company they feel is a) “too big to fail” and b) isn’t being managed properly.
And, indeed, the nation has witnessed as Obama essentially initiated a unilateral take over and nationalization of General Motors over the last week.
Now not only do the liberals want the power to take over any company they want, they want the power to dictate pay as well.
Socialism? You betcha.
