4/2/09

"No Balls" Cantor

Eric Cantor, as we all know, is the House Minority Whip. Actually, in the House, he is simply the "Republican Whip"; they don't use the term "minority", presumably in keeping with the current educational trends. We don't want anyone to feel bad about themselves.

Well, Eric has a lot to feel sorry about.

First, he was one of the Clowns of Congress who voted FOR the punitive and confiscatory taxes on the AIG bonuses. There were 85 Republicans who lost their minds and did just that. That they should have actually read Porculus Americanus, the so-called 'stimulus bill', is beside the point; they are busy people and don't have time for all that petty stuff. So, they are perfectly willing to make up for their initial screwing of that poor, suffering pooch by having another go at him. Which they did.

Now, Eric had an opportunity to remember who and what he is with the vote on the restriction of private sector pay, and he waffled. Or rather, he had yet another go at that pooch that has been so abused in a politico-sexual way.

He voted "present".

An Obama vote! He's taking his lesson from the president.

Here is why this is such a rotten deal:

A Bill to let Big Government set your salary

Wait a minute, you say. All they want to do is keep the executives from getting those huge salaries. What could be wrong with that? If We the Taxpayer are bailing these twits out, why shouldn't gummint be able to limit them?

Well ... first, the government shouldn't be bailing them out. That's the main screwup right there.

But this bill, a Barney Frank clown show, goes far, far beyond that:

It was nearly two weeks ago that the House of Representatives, acting in a near-frenzy after the disclosure of bonuses paid to executives of AIG, passed a bill that would impose a 90 percent retroactive tax on those bonuses. Despite the overwhelming 328-93 vote, support for the measure began to collapse almost immediately. Within days, the Obama White House backed away from it, as did the Senate Democratic leadership. The bill stalled, and the populist storm that spawned it seemed to pass.

But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.

Yep. Timmy Geithner has his fingers in the salary pie. Do you think this applies just to Wall Street?

It doesn't. There are at least three banks in Colorado who are taking TARP funds. There are going to be more companies doing that. How many employees are there in those banks?

And the corker? These banks didn't even need the bailout money. So they have literally - if this bill passes into law - so they have literally given away the bank.

And the House Republican Whip voted "Present".

What a gutless excuse for a "leader". Here is Cantor's pathetic reasoning:

Cantor votes present on bonus bill

In a statement, Cantor said he voted present because his wife works for an institution that could be affected by the legislation. He also criticized the bill as a “misguided” intrusion by the federal government into the private sector.

“This misguided bill gives the federal government unprecedented new power to dictate compensation levels for private citizens employed by companies,” Cantor said in the statement.


See? He knows how far this thing can go.

How about this:

Diana F. Cantor runs a Virginia-based subsidiary of New York Private Bank and Trust, according to ProPublica, a non-partisan investigative journalism organization. The New York bank received $267.2 million from the U.S. Treasury’s Troubled Asset Relief Program on Jan. 9.

His wife's position with this bank didn't keep Cantor from voting for the punitive and confiscatory taxation on those bonuses. Why does he think that is not a 'misguided' intrusion?

Does he really think we are all that stupid? Are we? Are we going to buy into this nonsense? Are you?