March 31, 2009, - 12:48 pm

WHOA, Marx!: Barney Frank, Dems Pushing to Set Pay for ALL Employees

By Debbie Schlussel
Think Barack Hussein Obama’s insistence that GM fire Rick Wagoner was bad?
You ain’t seen nothin’ yet.
House Financial Services Committee Chairman and former gay brothel landlord Barney Frank and the Democrat leadership in Congress are pushing through a tough measure, which allows the government to set pay of any and all employees at any company receiving any money from the federal government. It echoes Soviet-style economic policy.
The bill is set to be voted on by the entire House, next week.
Yes, America, you’ve regressed a long way, baby.

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In a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the “Pay for Performance Act of 2009,” would impose government controls on the pay of all employees — not just top executives — of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.
The purpose of the legislation is to “prohibit unreasonable and excessive compensation and compensation not based on performance standards,” according to the bill’s language. That includes regular pay, bonuses — everything — paid to employees of companies in whom the government has a capital stake, including those that have received funds through the Troubled Assets Relief Program, or TARP, as well as Fannie Mae and Freddie Mac.
The measure is not limited just to those firms that received the largest sums of money, or just to the top 25 or 50 executives of those companies. It applies to all employees of all companies involved, for as long as the government is invested. And it would not only apply going forward, but also retroactively to existing contracts and pay arrangements of institutions that have already received funds.
In addition, the bill gives Geithner the authority to decide what pay is “unreasonable” or “excessive.” And it directs the Treasury Department to come up with a method to evaluate “the performance of the individual executive or employee to whom the payment relates.”
The bill passed the Financial Services Committee last week, 38 to 22, on a nearly party-line vote. (All Democrats voted for it, and all Republicans, with the exception of Reps. Ed Royce of California and Walter Jones of North Carolina, voted against it.)
The legislation is expected to come before the full House for a vote this week, and, just like the AIG bill, its scope and retroactivity trouble a number of Republicans.

What’s that I hear? The sound of Karl Marx’s ghost chuckling from his grave.
We’re from the government, and we’re here to screw, er . . . “help” you.
Exit Question: If Stephen Gobie was still operating his male “escort” service out of Barney Frank’s Capitol Hill apartment, would Timothy Geithner get to set the, um, “wages”?
After all, he was living there at Barney’s pleasure, so you could say there was the requisite “government” funding involved.

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11 Responses

And of course they always get ust enought Republican votes to push it through, and of course, the Republicans as a whole, while they may largely vote against it, don’t really campaign against it.
The next step would be to regulate wages/conditions of those receiving Government contracts, Government grants, etc. I guess Khrushchev was right, only 50 years too early when he said “your children will grow up under Communism” (combined with islamic fundamentaism).

c f on March 31, 2009 at 2:37 pm

Republicans mindlessly voting for socialism! This is the loyal opposition? It goes to reason when the government gives you money, it runs your life. With Barney Frank’s measure, a new day has dawned in America. Breathtaking in its assault on the sanctity of contracts, contemptuous of individual freedom and thuggish on capitalism. Elections have consequences. We ain’t seen nothin’ yet!

NormanF on March 31, 2009 at 3:00 pm

I like it but it just needs a little tweaking! Instead it should read US Tax Paying Citizens will decide how much we pay all govt. employees including city, county, state and federal employees. Then we can get rid of this double standard were people who work for us get better retirement and better health benefits. I bet you we could eliminate a trillion dollars easy just by making them live our standard of living no more double standards. Do you have any idea what the employees comps are for govt. employees?

ohboyohboy on March 31, 2009 at 3:10 pm

Wonderful. I’ve been asking for months, why aren’t Barney Frank, Chris Dodd, Timothy Geithner et al, IN FREAKING JAIL?!!!!! At the very least impeached for gross incompetence? Geez! Uh, huh. We’re screwed.
I think it was Alan Keyes who was quoted recently as saying President Obama was a Communist…he sure acts like it…getting the gov’t into every part of our lives. Sherman! Set the “WayBack Machine to 1980!”. Quickly.

Floyd R. Turbo on March 31, 2009 at 3:44 pm

Sigh, what is going on?

mindy1 on March 31, 2009 at 4:02 pm

Communism, mindy1. Read that long ago, the Democrat Party took up the Communist Party platforms of the ’30s. We are seeing the manifestations…

Floyd R. Turbo on March 31, 2009 at 4:37 pm

Where is the RNC?
The Chairman should be filing lawsuits that none of this crap is allowed under the Constitution and there no authority for any of this nationalization of private companies and the rule of law regarding private property.
I cannot believe people are just sitting here watching their country being taken over by communists without a peep from the loyal opposition.
We should all march on DC and start making citizen arrests IMHO

ScottyDog on March 31, 2009 at 5:14 pm

This is scary but I’m having trouble mustering sympathy for corporate America or anyone else who makes a deal with the devil and expects to come out ahead.
Business people have been caving in to the Left for years; (ie. Jesse Jackson’s shakedown payoffs, enforced ‘diversity’ training’ and affirmative action hiring policies, refusal to speak out against stupid regulations and coercion etc.)
Where did they think their cowardice would eventually lead? Have these corporate types ever bothered to read a history book? What the hell did they think would happen under a socialist administration?
This is capitalism’s fatal flaw: they can’t see past the next day’s trading while marxists plot and plan for the long term.

Tempus Fugit on March 31, 2009 at 6:22 pm

Bet the unions are damn proud they spent all that money to get obambi elected. Now it looks like the dems can break every union contract they have. Good bye COLA’ raises and everything else.

ender on March 31, 2009 at 9:09 pm

Wonder how that is going to go over with the Unions? Pay for Performance LMFAO UAW workers will be making less than minimum wage. Most teachers will be in the same boat. No American should be even considering buying a GM or Chrysler (now Fiat) vehicle, not that Democrats buy American cars anyway. I would like anyone who did NOT expect this to happen to raise their hands. Lets see if I can put this in perspective
Government takeover of Private Companies and Financial Organizations
Government silencing free Speech
Government takeover of Health Care
Government instituting “Civil Protection Force”
Government control of resources
while at the same time
Government proposed ban on weapons and ammunition.
It does NOT take a conspiracy Theory nut to see what is happening. Good Lord we can not be this blind can we?
Make all the jokes you want but I have my Generators, food, water, and boxes of ammunition all stored safely away from Government eyes

mfee01 on April 1, 2009 at 8:49 am

mfee01 at April 1, 2009 08:49 AM
You are absolutely right about this administration destroying this country.
I have always wondering just how much freedom and liberty being taking from the average person before they would rise up against their country. Sadly, the way I see it, everyone is just sitting in their lazy boy watching all of this happening without a peep.
Rockefeller sure picked the right puppet this time around to groom for President.This guy has only been President for a little over 60 days and we already are turning into a banana republic.
I too am locked and loaded but it looks like most of my fellow American are like sheep going to the slaughter.
Rush was telling everyone yesterday that the Soetoro administration told GM they could no longer sell SUV’s and Obama signed another executive order banning any oil drilling on 20 million acres of federal land last Friday.
Watch for oil prices to go through the ceiling again!
Your papers please comrade

ScottyDog on April 1, 2009 at 9:12 am

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