Saturday, March 21, 2009

Do We Really Need Government Oversight On Executive Pay?

An article appearing in the Sunday March 22, 2009 New York Times tells us, “Administration Seeks Increase in Oversight of Executive Pay.”

After creating the furor over the AIG retention bonuses paid executives, it is very easy to believe this is a needed step to “protect” our financial institutions. But is it really? Or is it just another subterfuge to bring American Business under the controlling thumb of the Dictatorial Democrat Party that has wormed their way into total governmental control of all of us?

Disturbing in this desired “oversight of executive pay” is reading “possibly other companies.” Just what other companies is left unsaid, but I have no doubt that eventually this “desired oversight” could reach down to you and me, Blue Collar Americans trying to feed our families and live our lives as we see fit.

No doubt America and the rest of the world is suffering economic problems, but will government takeovers of businesses help us? I don’t think so.

Don’t forget that it was the Obama Administration that coerced Senator Dodd (D. Ct.) to write into the Spendulus Bill that these bonuses go ahead. Why allow them, and then feign such outrage? Why rush a bill through so fast that not one person voting for it had time to actually read it?

We are told that during the campaign, “Obama repeatedly urged regulators to adopt new rules to give shareholders a greater voice in setting executive pay for all public companies.”

I wonder why no one ever worries about giving voters a greater voice in setting elected officials pay they vote for? In fact, what other position allows for voting in your own pay increases, regardless of performance or economic conditions and leaves taxpayers footing the bill for vacations disguised as “official trips?”

The editor of our local paper, Lou Brancaccio, wrote an editorial this past Friday, March 20, 2009 titled, Symbolism counts in tough times. Nowhere does he or anyone else call upon our elected officials to forego their automatic pay increases every year and give voters a voice in what they might be paid.

As Obama and the Dictatorial Democrats are marching us into Socialism, saddling future generations with trillions and trillions of dollars of debt and bankrupting the nation by printing more money out of thin air, we would be better served by exercising the oversight on them instead of corporations.

Long ago a group of men came together and wrote a document declaring among other things,

“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.”

Our Declaration of Independence was a declaration from the people, not from a new government.

Our forefathers fought bloody battles to free us from oppression and today we elect such oppressive government back into power.

If the ruling party gets away with deciding what executive pay can be, don’t be surprised they will cap yours too. Just look at the speed with which the Democrat controlled House of Representatives rushed through approval of a 90% tax on those bonuses, directly against our constitution.

We are witnessing the classic divide and conquer, but from within. Class warfare is what the Bolselviks and Nazi’s used to gain their power in the past. History shows how their experiment turned out.

If we are to remain a free people we cannot let it happen again.

We must oppose this Socialist takeover. Comandante Obama and his cabal must be stopped


Angie Lee said...

I'm just kind of at a loss anymore, Lew. I have every confidence that the only way we will ever set things right again is through exactly what this document says, abolition of the sitting government. Having said that, I shall now await government agents to knock on my door with indictment in hand for my sedition.

There might be THREE honest politicians in all of Washington, but I am having a difficult time trying to decide who they could be, as it seems every last one of them has violated some tenet of the Constitution - inherently making their behavior, actions, and decisions unconstitutional and not in the best interests of We The People.

Some while back I'd said elsewhere that I used to be a glass half full kind of person; now, I am a glass violently thrown on the floor and shattered into a million shards kind of person. I really do not know what to do next to restore myself to the former.

klatu said...

Lew: My father use to tell me about the "MAXIMUM WAGE LAW" that FDR had in the "National Recovery Act" 1935 but was found unconstitutional by the Supreme Court at that time. Executive Pay Limits and this war on Bonus's might be the MAXIMUM WAGE LAW disguised and resurrected from the Socialist Raw Deal Days. I wonder if this ***** would stand up in court today.

2010 looking good.