Thursday, February 12, 2009

Socialist Slippery Slope

Nicholas Kristoff, in his usual left-leaning fashion, provides his own set of solutions for the current financial crisis.  Everyone is entitled to their opinion, of course.  But consider the following passage:
Senator Claire McCaskill, a Democrat of Missouri, had it right in her recent legislative proposal: cap compensation for all employees at companies receiving bailouts at the salary of the American President, which is $400,000 a year.
So, not only are we going to partially nationalize the banks through equity purchases, we are then going to usurp the authority of the Boards of Directors of those banks.  If the U.S. Government wants a seat at the table, they can get a seat on the Board.  I am quite sure that if we attempt to tell the lower-income beneficiaries of "tax cuts" what color car to purchase, Mr. Kristoff would have a complaint to file...