Saturday, March 21, 2009

Increased Oversight of Executive Pay

New York Stock Exchange, New York City.Image via Wikipedia

"The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said." http://www.nytimes.com/2009/03/22/us/politics/22regulate.html

The next step will be for Obama to announce that 'executives at all banks, Wall Street firms and other companies' will not be allowed to leave their jobs - except, of course, with government approval for each specific case. We will have to create a new Dept. of Employment where all decisions will be made concerning what job each citizen will be required to do and at what level of compensation.

The only jobs where compensation will be greater than $100K per year will, of course, be government (Politburo) positions.

No one will actually NEED any compensation anyway since all the needs will be provided by the government - food, housing, health-care, etc.

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