This Friday the House is going to vote to ban corporate pay practices at financial firms. What kind of pay practices? Anything that the government deems to be an "inappropriate risk." What exactly is considered an "inappropriate risk." Well that is for the government - that means bureaucrats -- to decide. People like Barney Frank or other government hacks will suddenly be in charge of determining what pay practices are appropriate for financial firms in this country. This is a prime example of our imperial federal government run amuck. We are talking about unprecedented power in the hands of the federal government. This is power that would have our Founding Fathers spinning around like they were on a rotisserie.

Slobbering Barney says, "If the risk pays off, you make money .. and if the risk doesn't, you suffer no penalties. Heads you win, tails you break even. It's like selling lottery tickets that only cost you money if they pay off." Yep. That's the man who is going to be in charge of regulating corporate pay for our financial system. His bill would ban any "risky" compensation that could threaten the "safety and soundness" of our economy.

Also, I think that Barney also managed to include in the bill a provision that would require financial companies to disclose to federal regulators any details on "incentive-based" compensation. Any details on ALL incentive-based compensation? We are talking about any and all bonuses paid out by the financial sector.

Oh and you will love this comment. This comes from one of my favorite Representatives. You people in Central Florida should be ashamed. Rep. Alan Grayson says that any attempts to water down this bill would only help "irresponsible managers who loot their companies.". Yep, because that is exactly what these financial institutions are all about.

Here's what this all boils down to: Government hacks who probably would have a tough time making it in the private sector are going to be telling business owners and managers what they can and what they cannot do in the operations of their businesses. This is a wholesale attack on economic liberty and free enterprise, and it is exactly what you would expect of the Democrat party and a president who, in writing, professed his affinity for Communism and Marxism.

You folks with the Obama bumper stickers? Thanks a pantload.