A little over a year ago, I was being excoriated by political opponents and some in the so-called conservative press for calling out the excesses of Wall Street and Washington. I wrote about it in my book, "Do the Right Thing," and frankly, it reads like a prophecy now. At the risk of saying "I told you so," I invite the ones who questioned my conservative orthodoxy to actually read what I said before the circumstances of the past few months proved me right.
The latest debate is whether the government should limit the pay of CEOs. The answer is as big a no as is the answer to the bigger question: Should government no longer referee the game, but take sides and play in it, all the while still wearing the striped shirt of the referee? Of course not.
The Wall Street wizards were the first to lose their sanity and now lunacy has become epidemic in Washington.
Will government have strings attached to the money it hands out? Of course. It's always about control. Our founders took great risks to shake off the shackles of too much government and started a revolution to secure their simple liberty. They would be appalled at what is being done today. And we should be as well. And don't just blame the Democrats — it was a Republican president and his hand-wringing treasury secretary who started this goofiness by demanding that we hand over $750 billion with no questions asked. Now we find out that of the money they can account for —- about half of it —- that we paid about $100 for $66 dollars worth of assets… brilliant stuff, isn't it?
A lot of Americans are losing their jobs thanks to the mismanagement of once good companies. You know who ought to be losing their jobs? Some members of Congress who went along with it. Bring the bums home.
It's terrible policy to have government set the salaries of private businesses, but businesses aren't private when they take direct cash from the government just to keep them solvent—-it's not like being a vendor and selling a product or service. This is being rewarded for doing a lousy job. We don't give coaches bonuses for losing all their games; actors don't get more money when their movies are a flop; even a kid running a lemonade stand doesn't get more money for failing to sell his lemonade. So why on earth would a company give bonuses to people who wrecked their companies? But if the boards aren't smart enough to know that, then trust government to be dumb enough to think they can fix it. And that is what is happening in your nation's capitol today.
That's my view, I would love to hear yours. E-mail your comments to: email@example.com