Man, Mafoo is a professional at ignoring the facts. Nowhere in this article does it say that the administration has adopted these rules yet. And it says it is still being debated what they will actually be. So you are misrepresenting the entire scope of the debate. You can't criticize someone for doing something before they have actually done it.
Not to mention you are ignoring the fact that the only reason some of the "healthy" banks are alright is BECAUSE the government prevented a black hole from forming in the financial market. Do you really think all those banks would be "healthy" if Fannie Mae and Freddie Mac had collapsed, or AIG had collapsed, or Citigroup had collapsed, or Bank of America had collapsed? These banks business models have their assets tied at the hip. If one goes down, it can bring everyone down with it.
Related poll on salary caps:
http://www.bizjournals.com/portland/stories/2009/02/09/daily59.html?ana=from_rss
Almost two-thirds of the responders to last week’s Business Pulse survey said executive salaries at companies receiving large amounts of federal bailout money should be capped at $500,000.
“Salaries should be capped when taxpayers foot the bill,” said 71 percent. “Let the free market determine compensation,” said 18 percent. “Let’s focus on the bigger issue of getting the country out of recession,” said 10 percent.
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
