Government-Controlled Economy. Wall Street Journal page one headline today: "U.S. Pay Czar To Rework Contracts Deemed High" (!!!!!)
Well, they came close, only missed by 100 years or so. They meant to say "Commissar" not "Czar".
"The role of the government in settling pay is reaching a pivotal moment. Seven banks and industrial companies that received significant bailouts must submit proposals for their compensation packages by Aug. 13.: Citigroup Inc., Bank of America Corp, American International Group Inc., General Motors Co., Chrysler Corp., Chrysler Financial and GMAC Financial Services Inc."
Central Executive Officers do not deserve sympathy, but try to imagine this: You are a CEO, you've devoted your life to a company, you've worked hard to be in the position you're in, you hired a team of people around you, you know them and what they can accomplish and contribute, and you put in much effort to ensure they get the pay that is appropriate.
Now comes along some bureaucrat who knows nothing about this history, knows nothing about your business, and knows nothing about your company. And now this bureaucrat is going to tell you how much to pay everyone, and in effect, is going to tell you how to run your company!!!
All this would have been unthinkable just two years ago!!!
Yet here we are, well on the road to an organization of the economy that very much resembles that of the former Soviet Union.
It appears the cryptocracy is very, very serious about establishing this central government control of the economy. They did not tell us this was coming and they don't tell us now what the motivation is. Secrecy and manipulation are their method of operation.
No comments:
Post a Comment