CEO Salaries: More Bailout Failure
October 26, 2009 Leave a comment
I am opposed to socialism. It always does more harm than good. But I will not defend the executives of the companies that stole three hundred billion dollars from the US taxpayer. They opened the door to the nationalization of their companies, and the socialist Obama administration is simply following up on the precedent, just as they are following up on Bush’s socialist precedents.
Yes, the CEO compensation plan WILL cripple those companies, making them less likely to survive. But that’s what they get, for their robber baron status. The problem is the original socialist violation of the marketplace, not the cascade-effect it sets off.
We need to ban any more unconstitutional bailouts, not waste our breath objecting to its inevitable destruction of the companies who already bribed our government to get it.