Frank Looks To Impose Populist Wage Controls

Banks, financial advisers and other financial firms would have to disclose their bonus plans to federal regulators, who would have the power to ban compensation packages they believe would encourage “inappropriate risks” by firms or employees.

We all ache when financial industries, especially those that took taxpayer dollars, receive huge payouts. But that is a reason to stop bailing companies out, not to give the government the right to micromanage the finances of a private corporation. THAT is what leads to "inappropriate risks", or lack of risk, as the case sometimes may be. If a corporation gives out inappropriate bonuses and fail, let them suffer for it.

Read more: http://www.politico.com/news/stories/0709/25640.html