But please don’t call him an unhinged socialist.
His supporters don’t like that.

In an interview yesterday with Rolling Stone Barack Obama reveals that his next goal is to change incentives on Wall Street and how people get compensated.
Yahoo reported:

President Barack Obama said in an interview released on Thursday that the next important step for making the financial sector safer is to make sure executive pay is less closely tied to risky bets.

In an interview to be published on Friday in Rolling Stone magazine, Obama said that despite passage of Dodd-Frank financial reform legislation, there is more to be done to make financial markets safe after the damage caused by the crisis of 2007-2009.

“The single biggest thing that I would like to see is changing incentives on Wall Street and how people get compensated,” Obama said. It’s questionable, even after enactment of Dodd-Frank reforms, that those incentives have completely been changed, he added.

The Rolling Stone interview stirred controversy because of the president’s use, at one point, of a barnyard epithet that some saw as an attack on Republican Mitt Romney.

After four disastrous years the former community organizer still believes he knows economics better than anyone.

Flashback: Remember, this is the same guy who told an audience in 1998, “I actually do believe in redistribution.”

 

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  1. Providing transportation for the president’s family is “the single biggest thing that I would like to see [in] changing incentives and how [presidents] get compensated.”

  2. More important is to make sure the risky bets are actually properly risky to the executives being paid to make them.

  3. Maybe we need to change how President and Congress gets compensated too. . .Starting with deducting deficits from their salaries. . .and having them adhere to the same benefits and laws as commoners do.

    We need an amendment to The Constitution that forces Congress, President and Judges to conform and abide by same laws as regular folks that no law or benefit will be given them different than other government employees and no government employee should have laws different than the common citizen.

  4. GM is wanting the Federal Government their stock.

    http://online.wsj.com/article/SB10000872396390443995604578000754035510658.html

    One of the reasons cited is the salary caps in place as part of the bail out agreement. GM says they can’t attract top recruits.

  5. Much like his Green Energy petrol-phobia stance is based on the false premise that the global warming that isn’t happening is caused by humans, he wants to change the way executive compensation is contracted on the assumption that monetary incentive is what caused the financial collapse when it was government meddling, by means of the Community Reinvestment Act, into the private sector that charted the course for the crash some thirty years later. We need to choose policies that regulate but not to the point of becoming a system of central planning. He may admire his Chinese comrades but we are not China, our society does not have a tradition of subservience but rather the exact opposite.

  6. Off-topic BUT…

    Dan Riehl is in the hospital, and his condition is a serious one.

  7. can we reform the way politicans are compensated. how about merit pay for politicans. if we had that most of them would owe money to the citizens.

  8. Obama’s answer to every poll drop is to go even farther left…

    Obama’s losing because he didn’t break up the greedy jewish wall street bankster cartel causing all our problems and wars. He should have used the guillotine on those evil corporate executives for not putting enough skin in the game and pay their fair share.

    He should have spent MORE money…2 trillion dollars in annual defecits !
    He should have forced everybody to drive an electric volt.

    He should have attacked Israel and wiped them off the map for peace in our time.
    He should have instituted a one child policy birth control.
    He should have granted citizen of the world amnesty cards to our undocumented guest servant workers. He didn’t do enough for gay people, and he didn’t pay enough reparations out to black people.

  9. A real reporter would have followed up by asking for an examply on how the legislation would have to be drawn up to accomplish this “goal.” He is a lawyer, so he should have some idea of how he’d do this with regard to keeping free markets “free.”

  10. @0: A real reporter would have asked “What article in the US Constitution gives the federal government this right?”

  11. Knowledge of economics is an odd thing to claim when you can’t get beyond 7th grade math.

  12. Is it time for a revolution yet guys? Well perhaps a peaceful one is coming in november. However I wouldn’t be surprised if election results are already sitting on a computer somewhere. Then we better get them before they get us.

  13. It’s funny, when I first read the headline, I thought it was concerning federal government workers! I had a momentary flash that maybe Obama was waking up and starting to address some of the big issues in the country.

    WHAT WAS I THINKING!!!??

  14. The socialist roots of Obama run very deep. So deep, that he does not realize when he is trying to play totalitarian tin pot dictator.

    After he decides who should get paid what for every job, is he planning on re-educating or exterminating those that refuse his benevolence?

  15. re: Obama Reveals Next Goal: Control Executive Pay & Change How People Get Compensated

    What’s he going to do, line people up against the wall and shoot them like Lenin did?

  16. Idle chit-chat for DaMasses! He will do no such thing! Democrats depend on these fat cats for campaign donations! This talk is intended to soothe the savage beast!
    Did Dodd-Frank reign in the “too big to fail”? Hell no!

  17. Who is John Galt?

  18. Yes, we do need a slowed-down, command-and-control economy run according to his idea of the Best and the Brightest.

    How dustbin-of-history of him.

  19. I wonder if this is an artists likeness of the real obama, after he eviscerated some executive…



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