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