Saturday, January 31, 2009

Suck it up or go under

By Creature

The Washington Post on Obama's plan for the rest of the TARP money [anonymous source/grain-of-salt warning]:

In finalizing the plan, officials have made a policy decision that could dismay lawmakers. The administration is likely to refrain from imposing tougher restrictions on executive compensation at most firms receiving government aid but instead retain looser requirements initially included in the Treasury's $700 billion rescue program, a source familiar with the deliberations said. Officials are concerned that harsh limits could discourage some firms from asking for aid.

If limiting executive pay is what discourages some from taking TARP money, then they don't really need the money. No? These too-big-to-fail banks have already failed. Only smoke, mirrors, a timid media, and the government are keeping them afloat. If they want another turn at the trough then they must submit to rules. Suck it up or go under. There is no choice here.

Labels: , ,

Bookmark and Share