Comment

A Bill to Let Big Government Set Your Salary

687
rsdavis3/31/2009 6:15:47 pm PDT

re: #417 Charles

I’m the last person to scream “The sky is falling! We’re doomed!” I do think something needs to be done, and I agree that if the government is going to bail out companies, it’s not completely unreasonable to expect some quid pro quo.

But this legislation goes WAY too far. When the government gives itself this much power (i.e., to void existing contracts for ALL employees, retroactively) it’s very disturbing, and just packed full of potential for abuse.

Which is why I suggested giving it some time to see if, in fact, the abuse occurs. Potential abuse is just that- only potential.

I think the Obama administration was surprised by the anger toward the million dollar bonuses and hadn’t provided enough oversight with the original bailout, and got burned. Now they are being careful to prevent future abuse of the system by closing potential loopholes such as giving a million dollar perk in lieu of bonus, giving large bonuses to a spouse of the CEO, etc.