Saturday, March 21, 2009

Obama Wants More John Galts

The New York Times is reporting that Obama will call for increased oversight of "executive pay at all banks, Wall Street firms and possibly other companies." Similarly, Reuters is reporting that Barney Frank wants to "rescind the retention bonus programs" at Fannie Mae and Freddie Mac. To the extent that their efforts are successful, tax revenue will fall.

We are in the very best of hands.

See also: Lax Regulation Identified!, Frank, Obama Galt AIG

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