Kip's Law Sighting: Are We at "Socialism" Yet?
Barney Frank calls for making Wall Street bonuses illegal:
“There should be a moratorium on bonuses,” Frank, a Massachusetts Democrat, told reporters yesterday in Washington. “They have a negative incentive effect because they are the ones that say if you take a risk and it pays off you get a big bonus,” and if it causes losses “you don’t lose anything.”
Of course, that same “negative incentive effect” applies just as well — far better, in fact — to politicians. Play dice with the economy, with geopolitics, and of course with the Constitution. “And if it causes losses, you don’t lose anything.” Pot-kettle-black, anyone?
Incidentally:
The moratorium “ought to be for all firms” and not just for those eligible for the Treasury financial-rescue program, Frank said.
A gay man baselessly stereotyping and demonizing an entire group of people, while disregarding notions of “fair and equal treatment”? Behold the undisputed hero-in-chief of contemporary gay politics.
Just goes to show: Even gays can be corrupted by politics and end up as power-mad assholes. Megalomania knows no sexual orientation, and moral defective politicians — gay, straight or “undecided” — will use their power to (metaphorically) rape anyone, regardless of the politicians’ or the victims’ genders. People like Frank succumb to a different kind of degenerate lust: the lust to control other people’s lives and livelihoods.
(Via Dealbreaker.)
Kip’s Law: Every advocate of central planning always — always — envisions himself as the central planner.
Filed under: Capitalism, Freedom of Contract, Kip's Law, Politics