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Either your brains or your signature will be on this resignation letter.
That’s what Treasury Secretary Timothy Geithner might as well be saying to the next corporate CEOs he intends to muscle out of their posts. Bloomberg reports Treasury’s highest-ranking tax evader said he is gearing up to turn senior management and boards of directors at banks that require “exceptional” assistance from the U.S. government into roadkill.
“If in the future, banks need exceptional assistance in order to get through this, then we will make sure that assistance comes,” while ensuring taxpayers are protected, Geithner said today in an interview on the CBS “Face the Nation” program. “Where that requires a change in management and the board, then we will do that.” […]
“Where we’ve had to do exceptional things,” the government has replaced management and boards of directors, Geithner said. […]
The Treasury secretary pledged to enforce congressional legislation that limits pay at companies receiving government loans. Geithner said the Obama administration has no intention of letting banks get around the rules.
“Our obligation is to apply the laws that Congress just passed,” he said. “We want the American taxpayer’s assistance going to generate greater lending, not providing excess compensation.” […]
Geithner seems to be referring to Rep. Alan Grayson’s (D-Florida) flagrantly unconstitutional, un-American compensation cap bill. This Mussolini-style corporatist legislation that would hand Geithner extensive control over salaries of employees who work for businesses that take in government bailout funds was approved by Barney Frank’s House Financial Services Committee last week on a 38 to 22 vote.
Neil Cavuto of Fox Business easily made Grayson look like a fool (it wasn’t hard, no doubt) last week as Grayson repeatedly ducked tough questions about the legislation. Of course, making fun of the clueless Geithner is no challenge either.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?
H/T to National Review Online