Wednesday, February 4, 2009

Government Sponsored Blackmail

Today marks a grave day in the history of the republic, for it ushers in a new era of despotism unlike any other that has come before. Today, Mr. Obama proclaimed the end of American capitalism as we know it by ordering that any company that is the recipient of funds from the massive government bailout will cap executive compensation at a paltry $500,000 a year. While today these caps are intended solely for the recipients of government assistance is there any doubt that this is just an effort to prep the field so that future restrictions on free enterprise can be implemented? In doing so Mr. Obama now proves that we have an administration that is actively engaging in and encouraging the practice of government sponsored blackmail, plain and simple. This is a form of treachery which until now has resided only in those underdeveloped nations who exist far from our shores, where despotism and fear rule the day and man trembles in the shadow of an all powerful dictator. Obama has now set himself up as arbiter and pay master for any company foolish enough to seek assistance from the federal government, regardless of their abilities and performance. As such he now intends to use your tax dollars, stolen from your wallet on a regularly scheduled basis, for far more nefarious ends than any incompetent corporate executive could ever dream, for once he has set the scale by which a man is rewarded for his ability he in essence becomes its master.

I for one, as did many of you, opposed the government bailout any troubled industry as it represented an anathema to any true capitalist. I proclaimed “Let them fall!” all of them, let the chips fall where they may. But no one listened to our cries, no one dared to read the writing on the wall telling us that government intervention in the market place of any kind was a disaster in the making. We can all see now where intervention of this sort leads. It opens the door to the suppression of freedoms and allows government free reign to overstep its boundaries, as it always does, crushing the individual under the unbearable weight of the collective. Now today we see where it has gotten us. Through begging the government for a handout, a life raft, a bailout, so that we may stay afloat for just a few seconds longer we have arrived at the point where the boot heel of the federal government rests on the throats of numerous companies as it demands that it do as it is told or else face the consequences. Squeezing it ever tighter, cutting off the ability of the company to breath, to function as it sees fit, until eventually it either succumbs to forced nationalization or ceases to exist.

The audacity of this fool headed man to think that he alone can decide the manner in which someone can be compensated for their efforts. It represents the height of arrogance and tyranny. That one could simply supplant his will over the will of others who are more informed of the circumstances surrounding the functioning of these various interests than he. What has Obama ever done to earn a dollar other than lie and obfuscate? Has he ever done an honest days work in his life? No, he has not, and he most likely never will. All this petulant fool has ever done was lecture and agitate the rabble who were ignorant enough to be taken in by his socialist drivel in their collective pursuit to remake this country in their image. Never once has he ever been responsible for making payroll. Never once has he been responsible for seeking out talent in order to increase a company’s ability to more efficiently produce. Never, not once, has Mr. Obama been forced to make the hard decision in which the success and failure of hundreds and thousands of individuals rest in the balance. That is until now, and we can all see what a wonderfully competent job he is doing, stumbling to and fro issuing directives and executive orders and pretending, as a child on the playground would do caught up in a moment of delightful fantasy, that he is God and king, arbiter of all and ruler of everything he surveys.

By single handedly placing a limit on the ability for these corporate executives to be justly rewarded for their successes, or in many cases failures, Obama has effectively denied the ability of these already troubled companies to pull themselves out of their fiscal morass by saddling them with a management team who has no incentive to do anything but fail. What corporate executive worth his salt would be willing to sacrifice everything he has ever achieved in order to work for literally peanuts by order of the federal the government? There is no incentive for these men to succeed, only to spin ones wheels and mark the slow steady digression into bankruptcy and calamity at the merciless hands of the federal bureaucracy. What is to be left for these struggling companies once the most able amongst them realize that they can simply walk out and peruse more lucrative careers with other companies not forced to grovel at Obama’s feet. Will they simply make the most foolish of decisions and destroy themselves for the good of the company in some grotesque demonstration of altruistic sacrifice, or will they simply peruse other means by which they are justly rewarded? There can be no doubt of what course of action they will take. Obama is sealing their fate, whether it be intentional or just some hapless circumstance that he has bumbled into remains the question. What is certain though is that the only ones who stand to gain from this egregious assault on the capitalist system is the federal government, and you can rest assured that with the Liberal Democrats in power it will be exploited for all its worth, at a cost to us all.

3 comments:

  1. Love your discourse! Having only recently discovered your work through posts from Drudge, I’ve gone back and read what you have written thus far. I’m in agreement and share your views, I disagree, in part, with your statements here though, that capping an executive’s wages, when that executive is not only employed by, but responsible for, a firm that is accepting my tax-payer dollars that I pay specifically for the intended use to preserve national and local security, well, so be it. Firstly, there should be NO bailout monies given at all, in my opinion. Companies should be allowed to fail. If the CEO has integrity and wishes to preserve capitalism, the firm will fail and the CEO will move onto the next thing – be brilliant, if in fact they are worthy of the positions they hold. If not, so be it. Secondly – to NOT cap these executive’s pay is akin to funding the abortions of the women who just can’t seem to stop getting pregnant (as if she didn’t know what caused the pregnancy). She gets pregnant, tax-payers pay for the abortion; she gets pregnant again, tax-payers pay for the abortion; repeat steps one and two ad nauseam. She wants, fully expects, YOU to pay for each and every terminated pregnancy she has. Just like the corrupt, greedy CEOs that will go ahead and accept the ‘Obama purchase agreement’. Why would you think, with the corruption-greed-theft that is rampant, that any of these CEOs acquired these positions honestly, and if honestly, would not show the restraint necessary in times such as these? If there is a bailout, as there most assuredly will be, then he who chooses to become beholden to the tax-payer (the government?!) for the loan should readily agree to accept the terms associated with the ‘loan.’ If it were my personal money (which it is) I require the restrain. My money, my rules. Of course, this is not the intention of the ruler of this once-enlightened nation – and at this point I agree with your statements, it is a bad precedence. So the honorable CEO should refuse the bailout, accept the failure, and start anew, because after the bailout money is accepted, this is no longer the CEOs money that has been earned with integrity. Again, you make a strong argument, but the real problem is that there is contemplation of bailout money to begin with, which negates capitalistic ideals, in my opinion.

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  2. how are stock options going to be capped? doesn't a CEO deserve a share in the profits if he increases the value of a company and enriches all the shareholders? this will mean CEO compensation will be taxed at the capital gains rate(and deferred ), capital gains tax remains way lower than the income rate.......... this can't work out the way BO thinks it will.

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  3. This is all done in hatred of the rich and love of money and power.

    Since when did the American people authorize the appropriation of our money for any purpose this government dreams up? The bail outs were illegal as well as immoral and like all government interference, it CREATES more problems than it solves. We all knew that and screamed NO to the bail outs and now we are arguing over the pay of the chosen donated? What a disgusting concept. The Hostile Opposition is 100% right...LET THEM DIE. Others will surface in their place and do better work. Obama had NO BUSINESS doing what he did and we will ALL SUFFER for this action not just CEOs.

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