Going to His Headlines

Taxpayers Gamble on General Motors
By Amanda Ruggeri-U.S. News & World Report
I don't even need to read this article to understand its meaning. Taxpayers did not gamble on GM, His Administration is. In fact, His Administration is gambling on GM with our money, the money of our children and our grandchildren. Now, one could say that the taxpayers who voted for Obama are gambling. They apparently made a bad bet with Obama and now we are all in trouble.

Administration to issue new Wall Street pay curbs
By JIM KUHNHENN, Associated Press Writer
WASHINGTON – An up and coming Wall Street executive might want to hold off on buying that condo in Aspen. The Obama administration is ready to issue broad new guidelines that would rein in pay at financial institutions.

Eager to remove incentives that they say contributed to last year's financial crisis, President Barack Obama's economic team plans to unfurl broad executive pay principles, possibly as early as Wednesday, that put a premium on long-term performance over short-term gain.

Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke want to give the Fed, which regulates banks, and the Securities and Exchange Commission, which oversees the financial markets, greater powers to guide compensation practices on Wall Street and beyond.
Have you ever heard of the executive branch of our government essentially usurping the power of the legislature by putting caps on bonuses. If a company inappropriately offers a bonus and it doesn't work for them...they deserve to fail. Our government should not make this decision. We can all ooh and aah at how much these guys make and think it's horrible. But it plays into class warfare and envy. If you think that a person getting a massive bonus-by contract (it seems regardless of whether they do good or not) is wrong that is Envy. Besides, a couple hundred million dollars in bonuses is nothing compared to how much these companies (billions and billions) are getting from the government. The government is an enabler.

Another Way To Describe the Newspaper Crisis: The Craigslist Boom
Peter Kafka
More fuel for the “Google (GOOG) didn’t kill newspapers, Craigslist did” meme: A report that says the listings service has seen revenue jump 23% this year and will end up booking $100 million — even as the newspaper classifieds business falls off a cliff.
Oh no. Unconstitutionality Warning! Don't tell His Presidency about the newspaper crisis. He'll appoint a Newspaper Czar. Then he'll start bailing out the newspapers and telling them what they can print (why not he tells GM they have to make tin can cars and can't make SUVs). Oh, wait. He can't do that...First Amendment freedom of the press. Why not Obama, you've usurped "checks and balances" and the legislature why not step all over the First Amendment. A state-run media, one more step toward fascism and Hugo Chavez (see previous posting). But of course, it won't matter to the New York Times, LA Times... and the like, because they are already run by Obamanuts...oh and Newsweek.