January 31, 2007

Bush's pseudo-progressive jibber jabber

From the AP via Yahoo! News:

President Bush took aim Wednesday at lavish salaries and bonuses for corporate executives, standing on Wall Street to issue a sharp warning for corporate boards to "step up to their responsibilities" and tie compensation packages to performance.


The president acknowledged people's continuing nervousness about their financial picture, despite a string of similar reports that provide some reason for optimism. He said he realized that stories about the enormous salaries and other perks for CEOs, for instance, create anger and uncertainty that affect the country's investors.


"Government should not decide the compensation for America's corporate executives," he said. "But the salaries and bonuses of CEOs should be based on their success at improving their companies and bringing value to their shareholders."


This new "I'll learn them CEOs" jargin sounds somewhat progressive at first, but not so much when you look at what he's really saying. He doesn't even use the word "worker" or "employee," because that's not who he's even pretending to protect. He clearly says he's looking out for shareholders and/or investors. Shareholders are not the same as employees or workers. Some workers own stock in their companies, but from my expierience working at my dad's place of business, I know that most probably don't--even if their company does very well in the market.

If ol' Georgey boy thinks he's going to win over economic progressives like myself, he's going to actually have to think about the workers, laborers, and employees (documented or not) who get screwed by these greedy bastards, not the slightly less rich stock holders who, apparently, aren't rich enough.

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