Did John Galt Arrive?

The intrusion continues...here's the latest from the House Financial Services Committee, whom most of you know the chairman, Barney Frank. Yes, Mr. I-helped-create-the-financial-crisis himself has quietly brought back the proposed (and unconstitutional) tax on compensation. But, this bill goes a step further by giving Comrade Secretary Geithner the right to set compensation for any employee in a company which has received government funding.

What's more is the quote from the bill' s author, Rep. Alan Grayon (D-FL)

"you should not get rich off public money, and you should not get rich off of abject failure." Grayson expects the bill to pass the House, and as we talked, he framed the issue in a way to suggest that virtuous lawmakers will vote for it, while corrupt lawmakers will vote against it.

"This bill will show which Republicans are so much on the take from the financial services industry that they're willing to actually bless compensation that has no bearing on performance and is excessive and unreasonable," Grayson said. "We'll find out who are the people who understand that the public's money needs to be protected, and who are the people who simply want to suck up to their patrons on Wall Street."

With proposals like this bounding out of our Congressional Politburo, there won't be an employee on Wall Street left. In case he forgot, four of Congressman Grayson's top five campaign contributors are large unions. Most union pension funds are heavily invested in the stock market. Hmm...

Also, whose virtue does Congressman Grayson espouse?

I'm looking for John Galt.

Who's Genuinely Qualified to Manage Money?

All the credit to Mark Steyn over at National Review Online for spelling out how bad things are getting in the economy and the market.

As much as I've been attempting to stay out of commenting on purely political issues; however, I can remain silent no more. This is out of control...call your Congress member, make this a critical issue in their world.