Link: Welcome, Businessmen, to Government Oversight
(FROM: The Wall Street Journal)
I’m still flabbergasted at what happened over the past 24 hours, with the president of the United States calling for the termination of a private sector chief executive. I’m even more astounded at just how much damage has been done in little more than two months’ time.
Now, I’m not saying that former President George W. Bush and congressional Republicans have no blood on their hands with regard to this economic crisis — I’m arguing that, while the Republicans have washed their hands, the Democrats have turned murder into an absolute killing spree.
This piece is an eye-opening look at the next step in the slippery slope we’ve found ourselves hurtling across. Today, the CEO of General Motors was fired. Tomorrow, will it be Chrysler? Will it be a bank? A retailer? A small business? Even worse, what of the effects upon individual workers who now find themselves, albeit unwillingly, under the government umbrella? In the commentary, writer Victoria Toensing provides a glimpse.
But I couldn’t eat the meat. It was rainbow-colored,” I protested to the Department of Justice clerk in charge of travel expense reimbursements.
The government rules allowed no flexibility. If you traveled on a plane that served food en route, as was the case on my late afternoon flight from D.C. to New Orleans, you could not get reimbursed for eating after you landed. It mattered not that the food looked spoiled, and that you really did spend money on a restaurant meal. There would be no, albeit meager, $20 reimbursement for that dinner.
Welcome AIG, Citicorp, GM and other stimulees to the financial controls of the stimulator, the federal government. But wait, it is now not just the recipients of Troubled Asset Relief Program (TARP) money and other taxpayer funds who are to be regulated. According to “sources,” the White House is considering salary controls for “all financial institutions” and “publicly traded companies,” not just those receiving “federal bailout money.”
What’s more, the feds intend to impose this by fiat, meaning regulations not legislation. When the government controls your salary, control over your financial compensation is not far behind. The government will apply “zero tolerance” and “avoid the appearance of” criteria to you just as it has done to government employees for decades. I worked under those rules during my 13-year government tenure. Trust me, business types, your new “no-nos” will take some getting used to.