US To Cut Bailout CEO's Pay By 90%

Well, I guess last week when the outgoing Chairman of BoA had his salary reduced to $0 by our Federal Government... that wasn't an accident. Nor is it isolated. Now PresBo has said that the pay of bailout bank CEOs will be cut by an average of 90%!
http://www.cnbc.com/id/33417281

Responding to the growing furor over the paychecks of executives at companies that received billions of dollars in the government’s financial rescue, the Obama administration will order the companies that received the most aid to deeply slash the compensation to their highest paid executives, an official involved in the decision said on Wednesday.

Under the plan, which will be announced in the next few days by the Treasury Department, the seven companies that received the most assistance will have to cut the annual salaries of their 25 best-paid executives by an average of about 90 percent from last year. Their total compensation — including bonuses and retirement contributions — will drop, on average, by about 50 percent.

This isn't even anything CLOSE to acceptable. How would you feel if your salary was cut by 90%, or if you suddently lost half your income in one blow? And it wasn't done by your boss, but by a government bureaucrat who really shouldn't have been involved in the first place!

For those of you who think that our government will honestly take over health care and then leave us alone... I ask how can you think that after seeing something like this? They will meddle and interfere because they CAN...

If you're not outraged by this, you should be.