Think about it: If Rick Wagoner can be fired and compact cars can be mandated, why can't a bank with a vault full of TARP money be told where to lend? And since politics drives this administration, why can't special loans and terms be offered to favored constituents, favored industries, or even favored regions? Our prosperity has never been based on the political allocation of credit -- until now.
Which brings me to the Pay for Performance Act, just passed by the House. This is an outstanding example of class warfare. I'm an Englishman. We invented class warfare, and I know it when I see it. This legislation allows the administration to dictate pay for anyone working in any company that takes a dime of TARP money. This is a whip with which to thrash the unpopular bankers, a tool to advance the Obama administration's goal of controlling the financial system.
Why? Because if they pay back the money, they can't control the banks. Think about it, if they can fire the head of GM, Mr. Wagoner, then they have control over what the banks do. What are they trying to do? Make us into a dictatorship?
It would help us taxpayers out if they would let them pay the money back.
http://online.wsj.com/article/SB123879833094588163.html
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