I am sick and tired of do-nothing politicians and bureaucrats who cannot make it in the real world lecture private industry leaders on how to behave and how to run their companies.
The latest action to draw my ire is the limitation on executive compensation from institutions receiving government bailout money (read the Treasury announcement here).
If you don't think they know how to run a company, then don't give them any bailout money. Period. If they cannot be trusted to do they right thing with money they received from investors and consumers, then why give them taxpayer money?
Each year, members of the U.S. House and Senate receive a pay raise automatically, regardless of whether they earned it or not. Why should Congress get a pay raise when its approval rating was less than that of George W. Bush?
If Congress wants to tell private industry what its leaders will earn, then why not give taxpayers the right to tell their representatives and senators what they will earn. Why not link their pay to their approval rating?
I cannot for the life of me understand why people get so jealous of what others earn. If the pay CEOs receive is out of whack, then it will come back to hurt the companies, and the boards of directors, executives and managers will have to answer for it.
My grandmother told me everything comes out in the wash. We need a big enough washer to toss our politicians into.
If we continue on this path, pretty soon we will have to strike any and all references to this being a free country.
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