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Congressman Frank: TARP’s comp curbs could be extended to all businesses

You read that correctly.

House Financial Services Committee Chairman Barney Frank is reported as saying that restrictions on executive pay “would apply to all financial institutions and might be extended to include all U.S. Companies.”

If you believe this is limited to solely Congressman Frank, think again.

Financial weekly says that Frank and the Obama administration “seem to be in synch” when it comes to plans for executive compensation.

In fact, it states that newly minted Treasury Secretary Geithner mentioned last month he would consider “extending at least osme of the TARP provisions and features of the $500,00.00 cap to U.S. Companies generally.”

Would some one mind telling me what gives them the right or the authority? Certainly not the Constitution or Bill of Rights. Both spell out that government has no business in such matters.

I warned people both locally and abroad what would happen and much of it was chalked up as political hyperbole.

Hate to say it, but I was right. The question is what can we do to stop the march not just to socialism – but to an indirect form of communism.

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