The administration of President Barack Obama will move to increase oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, The New York Times reported.
Citing unnamed government officials, the newspaper said on its website that the plan was expected to be unveiled this week in preparation for Obama’s first foreign summit next month. The proposal would seek a broad new role for the Federal Reserve to oversee large companies, including major hedge funds, the report said.
Could it be that the control sought here was and is the ultimate goal of this administration? The ridiculous way in which the AIG bonus fiasco was brought to light, fueled by the passion of the American people to seek justice, may well be used to limit the ability of private enterprise to steer their own course, through the murky waters of a socialistic future. Much like taxation, governmental tinkering with free enterprise places an anchor on economic growth...the likes of a New York City parking boot.
Citing unnamed government officials, the newspaper said on its website that the plan was expected to be unveiled this week in preparation for Obama’s first foreign summit next month. The proposal would seek a broad new role for the Federal Reserve to oversee large companies, including major hedge funds, the report said.
Could it be that the control sought here was and is the ultimate goal of this administration? The ridiculous way in which the AIG bonus fiasco was brought to light, fueled by the passion of the American people to seek justice, may well be used to limit the ability of private enterprise to steer their own course, through the murky waters of a socialistic future. Much like taxation, governmental tinkering with free enterprise places an anchor on economic growth...the likes of a New York City parking boot.
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