Why stop there, Bawmey. Initiate a government takeover of all private-sector companies and run them into the ground like you did with Fannie and Freddie…
(RCP) — Rep. Barney Frank (D-MA) tells MSNBC that he would like the government to mandate that publicly held companies should hold board meetings once a year to decide what is just compensation for officers of the company. Frank also went beyond that and told corporations how they should spend their money and what should be accepted and what should not.
“The way that you pay them [executives] can not be a way in which they are given an incentive to take big risks because they know if the risk pays off, they get paid extra money and if the risk blows up, they won’t lose a nickel,” Frank said, telling corporations how they should spend their money.
Frank says there should be regulations that make it impossible for people to make money based on risks whether it makes money or not, which is the quintessential tenet of the free market.
It should be noted that the “little guy” Rep. Frank speaks of normally doesn’t own a majority of the shares or a high percentage. Those are normally held by CEOs (sometimes given stock instead of more compensation) and other large investors.