Barney Frank Says Who Is John Galt!

 Barney Frank: TARP's comp curbs could be extended to all businesses 

Would be part of broader bill limiting hedge funds, credit-raters, and mortgage securitizers; 'deeply rooted anger' 

Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said.

“There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today.

He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies.

Mr. Frank seems to be in synch with the Obama administration in his plans for executive compensation.

Treasury Secretary Timothy Geithner said last month that he might try to extend to all U.S. companies a restriction that prohibits bailout banks from taking a tax deduction of more than $500,000 in pay for each executive.

The Troubled Assets Relief Program legislation enacted in October seeks to give companies receiving aid under the $700 billion bailout a number of incentives to curb what it calls excessive executive pay.

Mr. Geithner said he would consider “extending at least some of the TARP provisions and features of the $500,000 cap to U.S. companies generally.”

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F.Y.I..........

 Socialism  refers to a broad set of economic theories of social organization advocating state or collective ownership and administration of the means of production and distribution of goods, and a society characterized by equal opportunities for all individuals with a fair or egalitarian method of compensation. Modern socialism originated in the late nineteenth-century working class political movement and the intellectual movement of that period which criticized the effects of industrialization and private ownership on society. Karl Marx posited that socialism would be achieved via class struggle and a proletarian revolution and would represent the transitional stage between capitalism and communism.

Remember those guys during the campaign who said that Obama was a Socialist?  They were correct.....