Last night I was watching President Obama address the Congress and he made several points that just beg for a reality check in Washington D.C. The first is to cap CEO pay and the second is to cap the spending companies that receive bailout money can spend.
The first one is ludicrous. Politicians try to make CEOs out to be evil fat cats that all but rape and pillage America when the reality is that there are very few people who can fill these job on sheer talent alone. Add to that the kind of pressure anyone taking these roles has to endure from all angles and companies are lucky to find just the right mix of brains, talent, and wherewithal in someone to effectively take on such a role. It is not the government's role to determine how much a company can or should compensate someone. Let the candidates for these positions and the companies employing them come to terms on what the role is worth.
The second point which is a doozie is the sheer arrogance of politicians in Congress telling private companies how how they can spend bailout money because it is "taxpayer money" and these companies need to be responsible. Who are they kidding? All of Congress is paid with taxpayer money and there is no group more irresponsible than they for wasteful spending. If anyone has to manage the taxpayers money with care it is Congress and the apparently have no regard to listen to the millions of taxpayers that want Congress to throttle down on the spending. Congress presumes to hold some almost royal position whereby they are above this basic concept of managing the taxpayers funds in a fiduciary manner. Just look at Nancy Pelosi's expression if you doubt this.
Does Congress get things right? Of course at times they do – this isn't a rant that all of Government is bad, but let's call a spade a spade. Congress has approved, and the President has signed into law a bill that is over a trillion dollars in spending with interest? If this is not taking taxpayer money and wasting it I do not know what is. That my friends is the pot calling the kettle black.