Kenneth Feinberg, President Obama's "pay czar," fresh from sharply reducing the compensation levels of the top twenty-five executives at the seven companies that accepted taxpayer bailout money, is reaching even further down the corporate ladder and is now targeting 525 additional executives for compensation reduction.
The Financial Times has the story here.
Right, I'm buying it.
Mr Feinberg dismissed the idea that his rulings were guided by the public outrage over bonuses. “We were in no way driven at all by the ‘outrage’,” he said.
“This is not a vindictive programme. This is not punitive.
Creeping communism, this is, because once Obama & Co. have managed to run off the executive talent at these companies, which will eventually bring them to their knees, guess who will step in and, because these companies are "too big to fail," nationalize them for the "good" of the nation?
Why, the federal government, of course.
I see this as only the beginning, as I do not believe these people are going to stop with only private companies who were bailed out by the taxpayers. What the Obamanistas have managed to accomplish in all this is getting the American sheeple used to the idea of the federal government limiting the compensation of employees in the "semi" private sector.
This will eventually make it much easier for them when they go after the salaries of those in other private companies.
If you do not think this is one of their ultimate goals, then you haven't been paying attention.
Photo credit: steelturman.typepad.com