here, from last October.

Timothy Geithner is now Obama's Secretary of the Treasury.

There is nothing that will destroy economic activity faster than the belief that the government can destroy you or reward you at their whim. Successful business requires a stable legal and tax environment, and at least some assurance that the rules aren't going to change drastically every time some idiot politician has a brain fart.

But we have given near-absolute power to these people, and they can do pretty much anything they like whenever they like.

Essentially setting salaries by government fiat sends a message. We own you. Of course, state control of the private sector has been the point of Democratic philosophy for years.

The incompetent and venal will flock to be enslaved, and to become a "partner" with the government that, with luck, will be deemed "too important to fail." These people will be rewarded with taxpayer funds. The competent and independent will resist. Their reward will be higher taxes and penalization for their success.

Be interesting to track the stock market for a few days.