Private Compensation-Slippery Slope?
I’m flying the Union Jack today. It flies today because an appointed (not elected, not vetted by Congress) official has cut, without the signature of the President, compensation inside private corporations and companies . Pure socialism … we’re on the slippery slope!

- Government Controlled Pay
Lets take a look at Kenneth Feinberg, Obama’s Pay Czar
From Glenn Beck – (Item 22):
Kenneth Feinberg
Title: Special Master on executive pay
Salary: reportedly receiving no compensation for his work.
Reports to: Treasury Secretary Timothy Geithner
Appointed: June 2009
Department: Treasury• Named to examine compensation practices at companies that have been bailed out more than once by the federal government
• Oversaw the payouts to the families of the victims of the Sept. 11, 2001, attacks
• Was the chief administrator to the Hokie Spirit Memorial Fund, which commemorates the students who died in the April 2007 shooting rampage at Virginia Tech
• Founder and managing partner of Feinberg Rozen LLP (1992 to present), law firm specializing in mediation
• Was Chief of staff for Sen. Edward Kennedy (1978 to 1980)
• While working with the Feinberg Group, donated over $150,000, nearly all of which has gone to Democratic candidates and political action committees. In 2007, donated $2,300 to 2008 presidential candidate Rudolph Giuliani (R).
Disturbing action: (From NY Times)
- The Obama administration will order the firms that received the most aid to slash compensation to their highest-paid employees.
- The plan, for the 25 top earners at seven companies that received exceptional help, will on average cut total compensation this year by about 50 percent. The companies are Citigroup, Bank of America, American International Group, General Motors, Chrysler and the financing arms of the two automakers.
- Some executives, like the top traders at A.I.G., will face tight limits on their pay.
- Tthe cash portion of the executives’ salaries will be slashed on average by 90 percent, and the rest will be replaced by stock that cannot be sold for years.
- The plan would still permit multimillion-dollar pay packages.
- It would have no direct impact on firms that did not receive government bailouts or that have already repaid loans they received from Washington.
And then there’s this: (Fox News)
White House pay czar Kenneth Feinberg was the driving force behind the move to order steep pay cuts from bailed-out executives, and did not even seek the president’s approval before making his decision.
The Bottom Line

I cut your pay because you ran up a huge debt then took the tax payer's money -- So did Congress!
The Man (in my opinion) is qualified and executing the job specifications he was given. He’s a Democrat, but what’s new? I see no “political” axe he may have to grind here. Ideologically, this man is plain vanilla (not a screaming left-wing radical) and from his record, seems very qualified to do the job. I think he would have passed a congressional vetting process. (Too bad he didn’t for his own credibility!)
The Policy (in my opinion) is fair. These corporations should have gone bankrupt, they should not have been bailed out, taxpayer funds should never be used in private enterprise. But having “taken” the taxpayer’s money, and skirting bankruptcy, these executives are learning there is a harsh downside to socialism. They wanted it, they got it.
The Arm Twisting (in my opinion) was unconstitutional. We were told the banks had no choice, they were told in a meeting at the White House that there was no choice and they were forced to sign the “bailout documents.” This was wrong, and strictly a government takeover … not dissimilar to Chavez nationalizing the oil companies. But this is becoming something we, more or less, expect from the Obama administration.
The Powers Vested in this man are unconstitutional. He is now proving he is able to alter compensation in a private company or corporation WITHOUT the approval of the President or Congress. Look at the “power” of this (Obama-created) job function … no appointed official in the United States of America should have the power to alter compensation inside a private enterprise. However, the Obama Hypocrisy is still intact. The President had “nothing to do” with this … it was all doing of his “appointee.” Give me a break! Does that mean any government official can do anything they want? It is starting to look that way isn’t it? No wonder the conspiracy theorists are sure the formation of a shadow government is taking place. This is the most blatant evidence for their theory to date. And when does a simple theory become a fact?
The Slippery Slope is now almost frictionless. Precedent has been set, the government can control compensation in privately-held companies and corporations. A non-elected official can, without the direction of the President, reduce salaries in private corporations. I wonder when people will start taking these actions to court … this is clearly unconstitutional, but it never seems to be contested. Maybe with the “big bucks” these guys lost by “playing with Socialists” they’ll combine what funds they might have left and get a lawyer! THEY greed allowed themselves to let this happen, THEY should pay for fixing it!
Hey Corporate Democrats, Still enjoying the Hope and Change?








Extremist Appointed (Again!) One more time a person with extreme views has been appointed to a key position in the Obama Administration. This time a person documented extreme views has been appointed to keep our schools “safe.”
Wikipedia: Transparency, when used in a social context, implies openness, communication, and accountability. Transparent procedures include open meetings, financial disclosure statements, the freedom of information legislation, budgetary review, audits, etc.

