The government, specifically the Executive branch, continues to escalate its power grab over private industry. This news item from Byron York highlights how they desire to now control all pay for all employees in companies who have received “capital investments” (read: bailouts) from the government. And to top it off, they will be retroactive. Yes, that means more of government attempting to break contracts. Here is an interesting quote from this piece.
In addition, the bill gives Geithner the authority to decide what pay is “unreasonable” or “excessive.” And it directs the Treasury Department to come up with a method to evaluate “the performance of the individual executive or employee to whom the payment relates.”
The bill is moving its way through Congress. Let’s hope Congress sees this for what it is: a power grab on the part of the Treasury. The Constitution and the ideals of our Founders mean nothing to most contemporary politicians, so don’t get your hopes up too high.