Obama Eyeing Control Of CEO's Compensation By the Government...

by: Les Carpenter
Rational Nation USA
Liberty -vs- Tyranny

The President is interested in dictating CEO's compensation. Government control of salary rather than market determination. First the CEO and executives of companies. How long one wonders before this President and his progressive dEmocrat party comes after salaries of the next echelon of managers. And so on. Remember, socialism takes many forms. One is called fascism. Like communism it subjugates the individual and individual initiative and success to the "collective good" of society. Or put another way what an all powerful government by the few decides is good.

WASHINGTON (Reuters) - President Barack Obama said in an interview released on Thursday that the next important step for making the financial sector safer is to make sure executive pay is less closely tied to risky bets.

In an interview to be published on Friday in Rolling Stone magazine, Obama said that despite passage of Dodd-Frank financial reform legislation, there is more to be done to make financial markets safe after the damage caused by the crisis of 2007-2009.

"The single biggest thing that I would like to see is changing incentives on Wall Street and how people get compensated," Obama said. It's questionable, even after enactment of Dodd-Frank reforms, that those incentives have completely been changed, he added.

The Rolling Stone interview stirred controversy because of the president's use, at one point, of a barnyard epithet that some saw as an attack on Republican Mitt Romney.

The White House did not dispute the remarks but a re-election campaign official stressed that the comments were "part of a casual conversation at the end of the interview." The wide-ranging interview covers Obama's first term, what he views as his biggest accomplishments and his fierce fight with Romney for the White House.

Via: Memeorandum