Wednesday, January 31, 2007

Republican Fools

President Bush gave a State of the Economy speech.

In his address, Bush took aim Wednesday at lavish salaries and bonuses for corporate executives, standing on Wall Street to issue a sharp warning for corporate boards to “step up to their responsibilities” and tie compensation packages to performance.

This is the kind of socialist crap I expect from Barbara Boxer or Barney Frank. It is not the government’s business to lecture people about making too much money. Individuals should make as much money as the market will allow. Corporate executives have no gun at their disposal to force people to pay them too much money.

George W. Bush, on the other hand, does have a gun and in this speech he took the butt out of his shoulder holster a few inches just to show corporations that the gun is there.

George W. Bush is a fool. With this gross misuse of the bully pulpit, he has taken America one step further to tyranny. A small step, yes, but small steps add up over time.

Speaking of fools, I heard on the radio today murmurs of a recall effort against Governor Schwartznegger. I would support this recall. He has expanded environmentalist regulations and socialized medicine in California. The elitists would wring their hands and moan that California voters are weakening government by recalling their Governor every few years. Screw ‘em. The recall would put RINO’s on notice that when they act like Democrats they suffer.

I will not blog any more until Friday, starting… now!


softwareNerd said...

All this government pressure is done in the name of the shareholders. Fact is that the shareholders own the company and can make whatever changes they want.

The last 5 years or so (post Internet bust) has seen a lot of new regulations. Sarbanes-Oxley, the stock-option backdating prosecutions, the Grasso salary prosecution, and now the rhetoric against CEO pay. The result is that each of these gives private companies little slivers of advantage over publicly-traded ones. The story of the last two years has been the huge growth of private capital, taking "public" companies private. The regulations are not the only reason, but they're part of the reason. Other companies are delisting their shares from the stock-exchanges and "going dark".

Most people are unaware of this deatrh by a thousand cuts, because it takes years to play out. I can imagine a day 2 decades from now when some large US corp will delist from the NYSE and choose to list itself on the Shanghai stock exchange.

Dismuke said...

"The result is that each of these gives private companies little slivers of advantage over publicly-traded ones."

Gee - we can't have that. It's unfair to have some companies have advantages over others. Especially if the companies with the advantage are owned by greedy private investors and not "little guy" public shareholders. So what will happen is they will impose similar regulations on private companies just so that everything is "fair." After all, who can be opposed to fairness?