. . in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the
government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies. U.S.
That dimwitted old fart Barney Frank has come up with yet another seriously bad idea – controlling the compensation of employees of companies receiving bailout funds. I can guarantee you that this will not include voiding sweetheart deals the unions have negotiated with the automotive giants. And it is totally unconstitutional. How is it that this ethically challenged lying sack of merde even got elected to Congress and how does he keep his seat? He was largely responsible for pushing bank into making risky mortgage loans to unqualified borrowers thus precipitating the mortgage and banking crisis that the Obama administration is using as a wedge into nationalizing many American businesses.