Friday, January 30, 2009

McCaskill Wants Salary Cap

"WE HAVE A BUNCH OF IDIOTS ON WALL STREET . . ."
Sen. Claire McCaskill took to the U.S. Senate floor this morning to announce she's introducing legislation that would cap compensation for employees of any private company that accepts federal dollars.
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WATCH THE ENTIRE SPEECH HERE

According to McCaskill's office, employees would not be able to make more than the President of the United States until the company no longer relies on federal assistance under the financial rescue program.

Asked about McCaskill's plan at the daily White House briefing, Press Secretary Robert Gibbs said: "I think it is very safe to assume that when a plan is outlined for financial stability that it will include and address executive compensation and bonuses."

He added, "I think you will see the president and his economic team outline a plan to deal with what he found irresponsible yesterday."

Yesterday, President Obama said reports about CEO bonuses in 2008 were "outrageous."

"When you see something like that from the president, I think you can understand that that was from his gut and that was real," Gibbs noted.

VIEW A MUST-WATCH CLIP OF MCCASKILL'S SPEECH BELOW:

video

2 comments:

Matt said...

We have a bunch of idiots in DC as well, Senator McCaskill. My guess is your bunch of idiots vastly outnumbers the idiots on Wall Street.

Paul Seale said...

Hmm.. Government imposed salary caps.. Let me think back to what other nations had such policies.. Oh wait, wasnt that the former Soviet Union?

Dont worry Claire, Karl Marx would be proud!