The Federal Reserve’s Chicago Extortion Thug Tactics With Banker Salaries–Wage and Price Controls Next? Time To End The Fed!
Fed to Regulate Bank Salaries
Glenn Beck-11-04-09-A
Glenn Beck-11-04-09-B
Glenn Beck-11-04-09-C
Glenn Beck-11-04-09-D
Glenn Beck-11-04-09-E
Glenn Beck-11-04-09-F
Peter Schiff – Tax Credits, Federal Reserve & Interest Rates
The Federal Reserve is acting as a tyrant.
The Fed Chairman Ben Bernanke is acting just like former Fed Chairman Arthur Burns:
Ron Paul: The Big Guns Have Lined Up Against H.R. 1207
This will not stand.
Time to shut the Federal Reserve down.
The progressive radical socialists of both the Democratic and Republican parties are out of control and need to be shown the door!
Knock on their office doors Thursday and give them a piece of your mind.
What’s next? Obama’s New Prosperity–hyperinflation–the big hammer!
USA 53 Trillion In Debt
$78.8 Trillion; United States Debt Obligations exceed world GDP; Monetary Collapse Looming?
Obama imposes a wage-price freeze followed by wage and price controls, just like President Nixon:
Nixon imposes wage-price freeze
Wage & Price Controls
Economic Basics Part 4: Price Controls
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Hyperinflation Nation Part 1/3
Hyperinflation Nation Part 2/3
Hyperinflation Nation Part 3/3
Let free markets work.
End the Fed!
The late great economist Milton Friedman was right on the money:
Milton Friedman – Abolish the FED!
On the positive side, it could be worse:
Deep Impact
Background Articles and Videos
Elliott Sees `Serious Risk’ of Banker Flight on Pay Cuts: Video
http://www.youtube.com/watch?v=43QF2jjX73I
New World Order – ABC says Federal Reserve is Federal
Tyrant
“…In classical politics, a tyrant is one who has taken power by their own means as opposed to hereditary or constitutional power. This mode of rule is referred to as tyranny.
The word derives from Latin tyrannus, meaning “illegitimate ruler”, and this in turn from the Greek τύραννος, týrannos, meaning “sovereign, master”,[1] although the latter was not pejorative and applicable to both good and bad leaders alike.
In modern usage, the word “tyrant” carries connotations of a harsh and cruel ruler who places his or her own interests or the interests of a small oligarchy over the best interests of the general population, which the tyrant governs or controls. Many individual rulers or government officials are accused of tyranny, with the label almost always a matter of controversy. …”
http://en.wikipedia.org/wiki/Tyrant
Bank bonuses are in Fed’s cross hairs
The regulator seeks to limit rewards for risky practices at the 6,000 institutions it oversees
“…Escalating the government’s intervention in corporate pay practices, the Federal Reserve moved Thursday to restrict the ability of thousands of banks to pay bonuses in an effort to curb risky practices widely cited for helping to trigger the global financial crisis.
Under its proposal, the Fed would examine the compensation of any bank employees — including senior executives, securities traders and loan officers — who individually or collectively could significantly increase the amount of risk taken on by their employer. The central bank could order changes to policies that encourage too much risk.
The Fed’s action came as the Obama administration’s “pay czar,” as expected, took the unprecedented step of dictating changes to the pay packages of the highest-paid employees at the seven companies that received the most federal bailout money. …”
http://www.latimes.com/business/la-fi-exec-pay23-2009oct23,0,3190494.story?page=2
The Executive Pay Slippery Slope
“…Neil Cavuto was on O’Reilly’s show to offer the minority opinion. Cavuto had two different problems with this. First, by limiting pay, it also limits the talent at these firms. If we’re to get our money back, we’ll need to have good executives at these companies. Good executives aren’t going to come to GM if they know that Ken Feinberg can cut their pay if he feels like it. Second, Cavuto said that this is a very slippery slope. Once these companies have their pay set, where will it stop? O’Reilly acknowledged the first argument had merit but dismissed the second. Was O’Reilly getting ahead of himself?
Yet today, the Fed and Treasury announced a coordinated effort that will put the central bank at the heart of the rush to regulate pay on Wall Street. The regulations, which will try to align the financial incentives of managers with the longer-term performance of their firms, will give the Federal Reserve direct oversight over the pay of tens of thousands of executives, bankers, and traders.
In fact, whether by design or accident, Feinberg’s move is only the beginning. The Federal Reserve is ready to be significantly more heavy handed than Feinberg is. Whereas Feinberg limited himself to seven firms that still owe the government, the Fed wants to regulate executive pay of every company they regulate. In other words, the Fed is ready to determine that part of their regulatory authority is the ability to regulate executive pay.
That’s how monsters like this can easily start. It starts with an action that has overwhelming support, like Feinberg’s action. Then, that action is followed by something just slightly more sweeping and soon, all financial firms have their executive pay regulated. …”
<a href=”http://theeprovocateur.blogspot.com/2009/10/executive-pay-slippery-
Milton Friedman – Free to Choose 1990
