Hey, if it worked for Hugo Chavez, why not the Unicorn King?

The Obama administration will call 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.

And friends, that doesn't just include the firms receiving bailout funds -- the proposal is to control the pay of the executives of ALL firms, whether or not they receive those funds.

And forget that whole legislative process, where his opponents might be able to block this unprecedented grab for power over the private sector -- he'll just have his appointees and their subordinates make rules that don't require the vote of the people's elected representatives.

The administration has been considering increased oversight of executive pay for some time, but the issue was heightened in recent days as public fury over bonuses spilled into the regulatory effort.

The officials said that the administration was still debating the details of its plan, including how broadly it should be applied and how far it could go beyond simple reporting requirements. Depending on the outcome of the discussions, the administration could seek to put the changes into effect through regulations rather than through legislation.

After all, the legislative process is so cumbersome and awkward, and might not necessarily produce the Hope'n'Change that he wants -- so he'll do it himself, without legislative branch input. After all, is Article I of the Constitution really all that important? I mean, Barry Hussein's authority comes from Article II, and II is higher than I and so the powers there must be much more substantive -- and he was a constitutional law professor (well, an instructor without tenure, anyway) for a little while. Besides, isn't it time for the "living constitution" to evolve in such a way as to give him unprecedented power?

Be afraid -- be very afraid.

After all, if Obama can regulate how much these folks are allowed to make, he can also impose a maximum wage upon the rest of us if he decides it is in the national interest.

H/T Q&O, Big Lizards

Posted by: Greg at 01:15 AM | No Comments | Add Comment
Post contains 383 words, total size 3 kb.