NYT: "Administration Seeks Increase In Oversight Of Executive Pay"

The New York Times reports that the Obama administration will call this week "for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said."

Is it not a dangerous precedent if Obama begins overseeing executive pay only three months into his presidency? What is to stop the federal government from defining the wage of any American? What is to stop the federal government from interfering in any decision of any business? This does not sound like capitalism to me.

Just a week after the country hears nonstop criticism about AIG bonuses, AIG bonuses that the Obama stimulus specifically protected, the NYT reports that Obama is ready to "oversee" executive pay. Is that a coincidence?

Unfortunately, Americans have forgotten what capitalism means. Perhaps an old pro-capitalist propaganda film from 1948 would be appropriate in these times. This video below from a time when the opponents of capitalism were clear and open about their agenda. They were not just socialists and they were not just liberals. They were the Communists under the mass-murderer Joseph Stalin. Today those claiming to have created a socialist Soviet paradise have disappeared into the dustbin of history. What we are left with is those proposing a soft tyranny that will creep upon our nation step by step before we even know that it happened. Before we have the chance to make a difference.

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