Barney Frank Wants to Limit Executive Compensation For Executives in All US Companies

Barney Frank (D - MA) seems to want the $500,000 pay cap on executives of companies that take money from the government (Berman Post: Obama Caps Executive Compensation at $500k For Companies That Receive Bailout Money ... Sort of) to be extended at least to all financial institutes if not the all companies country wide. If this does not send a chill down your spine you must not believe in capitalism. For a major player in the Democratic party to talk like this is frightening. Communism has failed miserably every time it has be tried. Not just failed, the kind of crash and burn cataclysms that are generally proceeded by a view discretion warning. But hey, surely it will be different this time around; or not. It appears that this does not have near the support it needs to get passed, but that fact there may even be a vote on it; this is a bad sign.

More at http://www.financialweek.com/apps/pbcs.dll/article?AID=/20090203/REG/902039977/1003/TOC&template=printart.