As if their greed wasn't an issue already.

House Republicans and their buddies from Wall-Street voted to repeal the Dodd-Frank Act's check on crazy and exuberant executive pay.

For those who don't know The Dodd-Frank Act, well that specific section which was repealed, consist of having corporations reveal how much their CEO's make in comparison to their employees.

But poor, poor corps'. They think section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act is vindictive and invented to smother them in paper work. Boohoo friggin' hoo! You parasites make enough money, stop bitching about what you need to do and do it!
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A Congress only CEO's could love.

reply to post by XLR8R

On the other hand....

The Dodd-Frank bill was 2,300 pages long, and required more than 400 separate regulatory rule-makings by 11 federal agencies. The Heritage Foundation reports that Dodd-Frank “will swell the ranks of regulators by 2,849 new positions, according to the Government Accountability Office,” and notes that the average salary at the Securities and Exchange Commission is $147,595.

Source

Dodd and Franks were also two of the most corrupt individuals to recently grace the halls of Congress. Both played cover and shelter to Fannie and Freddy in the years leading to the implosion of the U.S. Housing market and related economy. They weren't alone but they led the pack. If their beast is dead? So much the better for all it was beyond just what it said it was on the cover.

reply to post by Wrabbit2000


Normally I would agree but that was one thing keeping them from sucking the rest of the blood out of the common worker. But this just opens the door ever so wider for abuses and siphoning funds, cutting salaries and the list goes on. They artificially created the first great depression now they are creating the 2nd.

The Founding Fathers of The US where in the majority from the elite classes and businessmen. Are you that surprised the way your country is going?
You have heard the saying "Start as you mean to go on"

reply to post by XLR8R


Now you have a point and realistic view with that, IMO. The Dodd/Franks Bill did just make a bad problem worse by solving some ...while starting whole new ones. Now, as you note, by being all political and not meant to fix anything? This just restarts the old problems again while the new ones it created are too established to go away entirely. The worst of both worlds.

Maybe Congress can go on a vacation? A year or two? Less goes wrong when they're all out to lunch.

On the other hand the US federal government has exactly zero right to cap anyone salaries expecially in the private sector.

Greed is limiting salary in the first place now back to fighting over fiat currency that is printed out of thin air by Government.

As if the rich did their own paperwork!

I'd have a better chance of hitting up a homeless dude for $1,000