Sex & Politics

Claire McCaskill introduced a bill that would cap executive pay at 400,000$ if they are receiving bailout funds. While I beleive that is still too high, if you’re receiving bailout funds then you’re a federal employee and your salary should be capped as such, McCaskill has the right idea. Our President however, doesn’t seem so willing to take Senator McCaskill’s lead, yet still wants to “lecture” Wall Street:

“We’ll ensure that CEOs are not draining funds that should be advancing our recovery,” Obama said in his weekly radio address this morning. “And we will insist on unprecedented transparency, rigorous oversight and clear accountability, so taxpayers know how their money is being spent and whether it is achieving results.”

But the final deal isn’t likely to curb executive pay…so what’s the point:

In finalizing the plan, officials have made a policy decision that could dismay lawmakers. The administration is likely to refrain from imposing tougher restrictions on executive compensation at most firms receiving government aid but instead retain looser requirements initially included in the Treasury’s $700 billion rescue program, a source familiar with the deliberations said. Officials are concerned that harsh limits could discourage some firms from asking for aid.

Oh yeah. All that tough talk is sure to show them CEO’s and Wall Street fat cats the error of their ways. It’s like when your two year old misbehaves and the only thing you say is, “Now don’t do that again Johnny. It makes Mommy really mad.” And of course Lil’ Johnny ignores your ass and goes on doing exactly what he was doing. Because even a two year old knows talk is cheap.

If their are no repercussions for your bad behaviour then there is no reason to behave and Wall Street and its ilk are like one big two year old. If you keep rewarding bad behaviour, you will keep getting bad behaviour. So, the rest of the 700 billion will be going down the rabbit hole, along with however much money these arasitic bastards get out of this new stimulus package.

If this is the “change” that President Obama was speaking so passionately about during his campaign, he can keep it, ’cause all I see is the same ol’ bullshit that didn’t work the first go ’round.