I’d like to nominate Rep. Alan Grayson (D-FL) for the April Fool Award, which would automatically put him in contention for Moron of the Month and Dunce of the Decade.
He introduced a bill that would give the Secretary of the Treasury blanket power to set the compensation for anyone who works for any company that takes/took federal bailout funds.
He was interviewed by Neil Cavuto and said his reasoning is that any executive receiving obscene bonuses could be told by Treasury that the money had to be returned. The problem was that he had no idea what amount of money should be considered obscene, nor does his bill specify who in a company is included. His answer was that the Treasury secretary would have the common sense, and should have the latitude to make that decision. Let me see…isn’t that the infamous tax evader, Tim Geitner?...the guy who is supposed to be so smart that his crime was overlooked because he was the only person who could resolve the financial mess?...the guy who can’t operate TurboTax, but will run the IRS?
Sounds to me like it’s just one more way of pandering to the lowest common denominator and potentially coercing anyone who receives a bonus to do your bidding. “Contribute to my campaign and I’ll let you keep your bonus.”
Welcome wage and price controls.
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