“The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said…. The new rules will cover all financial institutions, including those not now covered by any pay rules because they are not receiving federal bailout money.” (New York Times, Sunday)
Power grab.
FEE Timely Classic
“The Awesome Powers of Government” by Murray Weidenbaum