Here we go.......
 

Originally scooped by Drudge, the Times has published the article on line, and Obama is going to vastly regulate executive pay in financial institutions:

The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said.

The outlines of the plan are expected to be unveiled this week in preparation for President Obama's first foreign summit meeting in early April.

Increasing oversight of executive pay has been under consideration for some time, but the decision was made in recent days as public fury over bonuses has spilled into the regulatory effort.

The officials said that the administration was still debating the details of its plan, including how broadly it should be applied and how far it could range beyond simple reporting requirements. Depending on the outcome of the discussions, the administration could seek to put the changes into effect through regulations rather than through legislation.

One proposal could impose greater requirements on the boards of companies to tie executive compensation more closely to corporate performance and to take other steps to assure that outsize bonuses are not paid before meeting financial goals.

The new rules will cover all financial institutions, including those not now covered by any pay rules because they are not receiving federal bailout money. Officials say the rules could also be applied more broadly to publicly traded companies, which already report about some executive pay practices to the Securities and Exchange Commission. Last month, as part of the stimulus package, Congress barred top executives at large banks getting rescue money from receiving bonuses exceeding one-third of their annual pay.

Finish your assignment: http://www.wizbangblog.com/

Ten steps to a complete socialist rule.......


Step 7, Argentina: Chavez last week warned that any governors who challenged his seizure of seaports and airstrips could end up in prison.

Step 1, USA: See Roscoe's post.

This is just the beginning. It’s exactly how the USSR took control of its people. Someday, your wages will also be controlled if we allow this to take place.

Just caught a glimpse of (or an ad).....
 

.......for the Hannity Show, Monday night. I don't normally watch it, but apparently Mark Levin is going to lay two-handers on liberalism and how it is going to destroy (permanently, no doubt) our way of life.....

Since this show competes with "24", I guess I'll have to catch it on the DVR.......

This unrelenting warfare on our prosperous and free American way of life is often commented on in the VDARE website, BTW. Looks like our pinko enemies won't be satisfied until we are all Venezuealans/Cubans/USSR-denizens....lovely...bring everyone down to the lowest common denominator......

And the way they're setting everything up for a permanent control of the electorate (dumb as it is) I don't see any reversal coming soon (if ever).......it's going to be bittersweet looking back at the 50's and 60's----or even the Reagan era. You don't miss your water, 'til the well runs dry.......

Now it's time to duck and cover, so all the conservative-haters can have their at-bats! Ar-ar. Less power to 'em.....

Obama: new powers needed in financial area
By MARTIN CRUTSINGER

WASHINGTON (AP) — President Barack Obama seeks new powers that would allow his administration to seize troubled companies like the insurer AIG — and take ownership of their toxic assets — if their collapse would threaten the financial system.

Obama said Wednesday his administration will soon propose new financial industry oversight that includes a "resolution authority" that would have powers similar to those of the Federal Deposit Insurance Corp., which can seize control of banks, take over their bad assets and sell the good ones to competitors.

Administration officials did not provide any details on how the new resolution authority would be financed. That could be a key sticking point in Congress.

Snip.....http://www.google.com/hostednews/ap/...ugkNAD970NM6O0
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Isn’t this pretty much the classical definition of economic fascism?

Buckle up. Things are gonna get ugly from here on out.

WASHINGTON – The top Republican on the Senate Budget Committee says the Obama administration is on the right course to save the nation's financial system.

But Sen. Judd Gregg of New Hampshire also says President Barack Obama's massive budget proposal will bankrupt the country.

Gregg says he has no regrets in withdrawing his nomination to become commerce secretary. He pulled out after deciding he could not fully back the administration's economic policies.

The senator said Obama's spending plan in the midst of a prolonged recession would leave the next generation with a country too expensive to live in.

Gregg appeared Sunday on CNN's "State of the Union."

Thank you Captain Obvious.
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And from Frédéric Bastiat...

Socialists, like all other monopolists, desire to make the law their own weapon. And when once the law is on the side of socialism, how can it be used against socialism? For when plunder is abetted by the law, it does not fear your courts, your gendarmes, and your prisons. Rather, it may call upon them for help.

Now, legal plunder can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right to relief, a right to the tools of labor, free credit, and so on, and so on. All these plans as a whole — with their common aim of legal plunder — constitute socialism.

But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.

Then abolish this law without delay, for it is not only an evil itself, but also it is a fertile source for further evils because it invites reprisals. If such a law — which may be an isolated case — is not abolished immediately, it will spread, multiply, and develop into a system.

Above all, if you wish to be strong, begin by rooting out every particle of socialism that may have crept into your legislation. This will be no light task.

Hey Freddie,

I read VDARE every day. Great site http://www.vdare.com/

Roscoe