Posted By Vicki McClure Davidson on March 31, 2009

By Vicki McClure Davidson * Frugal Café Blog Zone

Rep. Barney Frank, House Financial House Financial Services Committee Chairman, wants to control Americans' wages

Coming soon to a socialist theater near you, “Bye-Bye Free Market, Say Hello to Wage & Salary Czar.”

When does this assault on America and its principles slow down, even for a frickin’ day? We’ve got to vote these liberal ghouls out, kids. They’re gonna suck us dry.

Breaking news:

Now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the “Pay for Performance Act of 2009,” would impose government controls on the pay of all employees — not just top executives — of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.

The purpose of the legislation is to “prohibit unreasonable and excessive compensation and compensation not based on performance standards,” according to the bill’s language. That includes regular pay, bonuses — everything — paid to employees of companies in whom the government has a capital stake, including those that have received funds through the Troubled Assets Relief Program, or TARP, as well as Fannie Mae and Freddie Mac.

The measure is not limited just to those firms that received the largest sums of money, or just to the top 25 or 50 executives of those companies. It applies to all employees of all companies involved, for as long as the government is invested. And it would not only apply going forward, but also retroactively to existing contracts and pay arrangements of institutions that have already received funds.

In addition, the bill gives Geithner the authority to decide what pay is “unreasonable” or “excessive.” And it directs the Treasury Department to come up with a method to evaluate “the performance of the individual executive or employee to whom the payment relates.”

Treasury Secretary Tim “Low-Down Lying Weasel, Tax Cheat Pinocchio” Geithner will be put in charge of saying how much people can earn, imagine that. And anything he, the undisputed “Boy Wonder-Blunder” of Obama’s administration, decides will be retroactive and will void out any existing agreements or contracts. Are pigs flying in DC today? Is Hades colder than normal? Is this still America?

Who wrote this lame screenplay? An angry, arrogant fascist-sadist and a clueless, overhyped tax cheat will be determining and dictating the worth of labor and skills of Americans… a vivid “tragicomedy” for all Americans and dismal news for the free market. Available on DVD or Blu-Ray by Christmas 2009…

Great quote from The Nobama Blog: The Ministry of Compensation Justice is Coming Soon to a Paycheck Near You: “Barney Frank is the socialist Energizer Bunny, he just keeps going and going. The stupidity of this new bill is mind boggling.” Brilliant. Wish I’d written that.

Other relevant blogs and articles for your daily dose of government depression:

Little Green Footballs: A Bill to Let Big Government Set Your Salary
Michelle Malkin: Salary control: You knew it was coming and 10 House Republicans for arbitrary salary control; Minority Whip Cantor votes “present” (!)
Evan Thomas, Newsweek: Obama’s Nobel Headache
Pirates! Man Your Women!: How Much Longer Will It Be Until the Gov Tells YOU How Large Your Salary Should Be?
GayPatriot: Barney Wants Government to Set Executive Salaries
America Needs Me: While the Car Salesman Is Out Of Town…
The New Ledger: If You Thought the Bobs Were Bad, Here Come Tim and Barney
Hot Air: Congress presses to license tax preparers
The New Ledger: Your Depressing Read of the Day
Jim Blazsik: Hey Arnold: If California is so cool, why is there a homeless camp in Sacramento?
Pam Meister, Big Hollywood: Apocalypse Near? Liberal Actresses Line Up to Star in ‘Atlas Shrugged’
The Teleprompter Obama: More Freedoms Obama & Minions Seek To Seize
The Nobama Blog: The Ministry of Compensation Justice is Coming Soon to a Paycheck Near You
Michelle Malkin: Another day, another Obama nominee with tax problems
The Daley Gator: The Audacity of Thuggery!
Americas Watch Dogs: George F. Will, Washington Post: Is TARP Unconstutional? Bailing Out of the Constitution

Categories: Conservatism, Economy, Government, Social and Political Climate
Tags: AIG, America, Americans, bailouts, Barney Frank, film, financial crisis, free market, movie, Obama, Pay for Performance Act of 2009, recession, salaries, socialism, taxes, Treasury Department, wages