Tuesday, February 10, 2009

More Political Terrorism - Obama, Frank, Geithner Plotting to Extend Pay Caps to ALL Companies


I guess I was hopeful on some level that our politicians here in America were different somehow from the politicians in other countries who spawned Hitler and Stalin and Mussolini and on and on - that our guys, even though they might disagree on matters of ideology, all wanted to see our nation thrive and prosper.

I lived with the notion that, even though I disagree with the Democrats, they were of a different breed than the ones who destroyed much of the world in the twentieth century, with plots and schemes for manipulating their populaces and waging war. That fascism, communism, and other extreme forms of political tyranny could not and would not survive here.

I am starting to think I may have been wrong.

What is going on now is nothing short of political terrorism, that can only destabilize and undermine our free markets. Take this news from Barney Frank, in Financial Week.

“There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today.

He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies.

We all know Barney's a dingbat, but this is more worrisome:
Mr. Frank seems to be in synch with the Obama administration in his plans for executive compensation.

Treasury Secretary Timothy Geithner said last month that he might try to extend to all U.S. companies a restriction that prohibits bailout banks from taking a tax deduction of more than $500,000 in pay for each executive.

I bet investors just love hearing this kind of Marxist rhetoric from Washington. This kind of talk is irresponsible and un-American, and it seems to be a thinly veiled attempt to destroy capitalism and depress the stock market so that the government can involve itself in these businesses. In that, this is fascism.

There's a lot more to this, and we should start sounding the alarms now. I'll definitely be talking about this tomorrow night on ECR - America's Fascist Future - WVOX-AM at 7PM EDT.
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