A constitutional monarchy, or a limited monarchy, is a form of constitutional government, wherein either an elected or hereditary monarch is the head of state, unlike in an absolute monarchy, wherein the king or the queen is the sole source of political power, as he or she is not legally bound by the national constitution. Obviously, we as a nation have become an "absolute monarchy". King Paulson need not follow the laws of mere mortals.
Four hours after Congress said no to bailing out the whole world alone, IRELAND put $750 Billion on the table. Wall St did the packaging, but the whole world bought those toxic securities, they bought them, they own them and they have a problem too. Time to arm twist their own countries since we seem to not be playing our role as ultimate sucker.
Id like to slap Paulson first on the right cheek, then quickly with the back of the same hand on the left one.real hard. might be worth spending a night in Jail for that. maybe it would knock some sense into his decayed mind.
Oh, his masters-who-can-not-be-named will do that. He provoked the sleeping democracy beast to wake. Just saw two minutes ago C-SPAN: "Senator Feinstien got 90,000 emails, phone calls and letters on the bailout in the last two days, 80,000 of them against it." And she is not even involved!
I know this is not a popular opinion but I agree with Paulson. The government has no right in dictating compensation maximums for anyone. The people who should be up in arms about these golden parachutes are the shareholders who should hold the boards accountable for such stupid contracts for C-level employees. It does piss me off to see such crap mangement be rewarded but to legislate against it is stupid. Just fire the f'ing boards and appoint ones who will base additional compensation on performance only. And if you are a shareholder of a company like Home Depot that ties compesation to stupid ass measures that do not benefit the shareholder, sell the frigin stock.