Tuesday, March 31, 2009

In Case You Were Wondering...

...what the death of economic freedom looks like.

Beyond AIG: A Bill to let Big Government Set Your Salary

But 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.

Great, that's just what I need, another reason to wish him unwell.

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.

And, if a company refuse to accept the next round of "capital investment"?

I don't wanna know.

Also, why do I get the funny feeling that the wages being paid to unionized auto workers won't receive quite the level of scrutiny as others?