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Wednesday, February 04, 2009

Proving The Obvious

President Obama wants to save financial institutions, right? Our economy needs those institutions deemed "too big to fail" to... well... not fail, right? This just proves it's a crock.
The Obama administration is tackling the bailout of the battered financial sector on two tracks: overhauling how the government spends the money while devising new executive compensation restrictions for banks that get it.

Administration officials said the pay limits could be announced this week, but said the more complicated task of setting up a new framework for rescuing the nation's ailing banks would have to wait until early next week.
Let me see... you need the best and the brightest working at these companies to get them back on track, right? You need something to encourage them to either seek employment with these companies or to keep them employed by those companies, right? And you answer to this little concern is to restrict how much the best and brightest get paid? How does that work?

Obama is on FoxNews right now, saying that executives should not be rewarded for failure. If the company was going to lose $1 billion and, instead, only lost $500 million, whoever worked that out succeeded at his task, right? It's all how you look at it...

He's going to destroy the economy, finished what Presidents Carter and Clinton and members of Congress put into motion. I hope he's proud...

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