PJ Media

@112. goy:

Great link Dave.

It reveals BHO’s much ballyhooed “salary cap” for what it is: more empty rhetoric from the empty suit.

You’re welcome for the link, although what the “salary cap” really does is give shareholders some tools to control executive compensation. Just trying to help folks understand that it’s not the socialist legislation they are being told it is.

In fact, with the loopholes described, the salary cap is just a plain, flat out lie – a ruse to mislead an ignorant public.

Actually, the flat out lie is that Obama is implementing a strict salary cap. The salary cap is real, but it is flexible enough to be constitutional. I think the ruse is the GOP trying to claim that it will kill Wall Street.

Just a quick comment or two on your conspiracy theory. I have heard the same theory from both sides, with Republicans arguing that it was manufactured to make Bush look bad, and Democrats arguing that it was meant to blow up in Obama’s face, but exploded a little earlier than planned.

Personally, I just look at the numbers, and it is obvious that Bush’s SEC was asleep at the wheel. Subprime borrowing peaked in 2004-2005, and left a time bomb, just waiting for a recession to set it off. Rather than move proactively, Bush waited for the proverbial manure to impact the impeller. CDS were allowed to grow into a sleeping monster, and our real economy was abandoned for the sake of corporate profit-taking.

You can go on trying to point the finger at a Democratic Congress, but the damage was done before they came to power, and really should have been prevented by Bush and the GOP. The underlying problem is the lack of job and income growth in the US economy, and the GOP’s intention to outperform Clinton in growing the ranks of homeowners.

If you can tear yourself away from your historical revisionist tendencies, you’ll note that this crisis was no surprise. Please pardon the partisanship and take a look at the date and data. This burst bubble was a long time coming.

Peace.

DS