So now, as we all knew would happen, Obama has designs on telling ALL financial services firms(for now) what the Executives pay and bonus structure will be. An important note-this applies whether they have taken TARP funds OR NOT.
"The regulations would reportedly cover all financial establishments, not just those receiving federal bailout aid and would likely work to ensure executive pay was in line with the financial interest of the company."
So guess what, next it will be all executives pay the federal government feels they would like to regulate. Don't fool yourself, he's coming for it all before too much longer "in the interest of the public." No doubt about it.
That's alright, pretty soon we'll have some sweet price controls to go along with those salary caps.
Socialism, Communism, Nationalism-whatever you want to call it, here we come.