October 16, 2009
The Indentured Servitude Czar
From today's WSJ:
The Treasury Department's pay czar pushed outgoing Bank of America Corp. Chief Executive Kenneth D. Lewis into giving back about $1 million he received so far this year and forgoing the rest of his $1.5 million salary for 2009, say people familiar with the matter.
Translation--the pay czar has just confiscated Mr. Lewis's 2009 pay or coerced him into returning it to BOA. He'll get nada, zip, zero for the year--no bonus either.
I guess minimum wage laws, which should be abolished, only apply to workers who aren't having their arms twisted by one of Obama's minions.
Posted by E. Frank Stephenson at 04:02 PM