Calling The Tune

Now that everyone's lining up at the Federal trough, they're starting to find out that there are a few strings attached. It seems that, in addition to paying the piper, The Empty Suit also plans to call the tune. Imagine that. Maybe this guy won't be so bad after all.

The problem with these arrogant, greedy corporate types is that they not only think that they're the only ones who should get rich in a capitalistic society, but also that they should be shielded from economic downturns. As someone else said, they want to be capitalists on the way up, and socialists on the way down. Well, capitalism is a two-edged sword, and it cuts both ways. Welcome to the real world, guys.

Back in the late '80s, when those East Coast cretins breezed into town, wanting to build that ill-fated "Festival Marketplace", they wanted it backed by taxpayers' money.

No way, we said. The idea behind free market capitalism is, you invest your money in an enterprise and if it makes a profit, good for you! That's what capitalism is all about. And if it goes bust, so sorry. That, too, is what capitalism is all about.

The only real problem -- aside from the basic problem of taxpayer money being used to bailout stupidity and greed -- is that the plan calls for "submit(ting) the pay plan to shareholders for a nonbinding vote". Far better to make it a binding vote. Even better would be to require all executive compensation to be submitted to shareholders for a binding vote.

Of course, the Wall Street fat cats will be screaming bloody murder over this, but what did they expect? Government money has always equated to government control.