“More Czars Than The Romanovs”
That’s what John McCain has said about the Obama tendency to appoint “czars” to oversee various issues. As McCain points out, these czars operate outside of any real oversight.
And apparently there’s going to be another new “czar” in town. A – are you ready for this? – “pay czar”.
The Obama administration plans to appoint a “Special Master for Compensation” to ensure that companies receiving federal bailout funds are abiding by executive-pay guidelines, according to people familiar with the matter.
The administration is expected to name Kenneth Feinberg, who oversaw the federal government’s compensation fund for victims of the Sept. 11, 2001, terrorist attacks, to act as a pay czar for the Treasury Department, these people said.
A tendency toward fascism?
I’d have to say yes. There’s no question that this is a very deep intrusion into the management of a company which will have negative consequences on down the road (the companies still compete for talent in the same pool as companies not under these restrictions). But apparently their competitive health is less important than enforcing some arbitrary and political level of “fair” compensation.