|
|
|
Bono Mack: Financial Regulatory Bill Sets Bad Precedent
Washington,
Jul 31 -
Congresswoman Mary Bono Mack (CA-45) today issued the following statement after opposing H.R. 3269, the Corporate and Financial Institutions Compensation Fairness Act:
“House Democrats are already trying to force on Americans an expensive, government-run health plan, and now they want to dictate the pay for key company employees. This is an unacceptable overreach of the federal government into business practices.
“Companies that accepted taxpayer dollars to bailout their businesses shouldn't pay out exorbitant bonuses and salaries to executives – and I have strongly opposed allowing them to do so on the backs of U.S. taxpayers. However, today's legislation would set a dangerous precedent by allowing the government to oversee and weigh in on compensation agreements of nearly every bank, large and small.
“These are free-market, business decisions that should be left in the hands of businesses, not Washington bureaucrats. This is another example of bad policy that just isn’t right for America.”
####
|
Print version of this document
|
