Posted by: James Atticus Bowden | October 15, 2009

On Bailouts and Bonuses

Heard the socialist elites (not a contradiction in terms – they are elites who can support socialism because they already have financial wealth) on NBC whining about the upcoming bonuses big banks will pay out.

The socialists were complaining that banks are giving out the taxpayer’s – our – money in exorbitant amounts. 

If you don’t like the bonuses that banks pay, then don’t support bailouts.

Banks that are too greedy or foolish will go under.  The FDIC will insure the average (isn’t that what counts in class warfare?) American.  Don’t give them a bailout.

As, to the leverage the socialists want to have – because of the bailout money.  Real taxpayer cash didn’t go to the banks.    Just freshly printed money – deficit made up, pretend money that will cause inflation – was given the banks.

The government has no business telling businesses what to pay their employees.  The exception is the Minimum Wage Act imposes a floor – which kills a number of jobs. 

The Leftmedia socialists have less business telling businesses what to pay their people.  Why don’t the media talking heads publish all of their own salaries on the screen when they are carping about bank bonuses? 

Let’s look again at the U.S. Constitution and see the authority for a Pay Czar – and what his duties, power and authority should be.   While we are looking, check out the legislative responsbilities of Congress.

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