Pay Czar, in Today's News 06.11.09

Pay Czar. WSJ: "The Obama administration scrapped the $500,000 salary cap it proposed for executives at firms receiving large amounts of federal assistance but appointed a pay czar to review, reject and even set pay levels -- with no appeal." (!!!) (Emphasis added.)

"...the new 'special master for compensation' will have broad authority over compensation for senior executives and top 100 earners at American International Group inc, Bank of America corp, Citigroup inc, General Motors Corp, GMAC LLC, Chrysler LLC, and Chrysler Financial." 

The sovietization of the American economy continues. Central planners in Washington now dictate major decisions and pay guidelines for some of the most important corporations. And on the pay question there is no appeal to the planners decisions! Lenin, Stalin and all of them couldn't have arranged their control better.

BTW, the pay oversight is not the key for the cryptocracy. What they are after is a control measure to ensure that their chief executives toe the line on implementing the cryptocracy's desires.