Lost in Socialism SpaceThe pride of Massachusetts, Democrat congressman Barney Franks, told CNN he has heard the American public, albeit with a tin ear. Franks originally intended for the Secretary of the Treasury to be the sole determiner of what salary, from CEO to secretaries, should be paid at companies and banks which accepted federal bailout monies. He told CNN he has now revised the bill and a small committee of people, including the treasury secretary, will now determine the salaries.
Really! How democratic of you Mr. Franks.
Franks maintains the committee system he proposes should quell the rising outrage over the bill which is one of the biggest power grabs of what always has been and should remain the prerogrative of the private sector, bailout or no bailout.
Most thinking Americans are outraged over large bonuses paid to AIG executives and have been highly vocal in that outrage. But most thinking Americans still prize the free enterprize system that has made us the envy of the world in fostering innovation and providing the highest standard of living among industrialized nations.
Since when should the federal government dictate the amount an American CEO or an assembly line worker or a secretary be paid. This is naked socialism.
And show me the law that allows a congressman to demand the names and home addresses of AIG executives, some of whom had received death threats over the bonus fiasco.
As greatly as the greed and stupidity of those AIG executives overreached and brought down a proud American company, so to are Mr. Franks and the Obama administration overreaching in response to the economic crisis, displaying a greed for power and automony that rivals anything America had witnessed since the days of Joe McCarthy. I hope more circumspect members of our legislative branches weigh in quickly and just say NO to Mr. Franks and this base usurption of the democratic ideals and protections established by our founding fathers.