McCain Vows to Criminalize Executive Pay

John McCain already is demonstrating how unfit he is to be president of the United States. In a speech in Washington, he vowed to unleash federal prosecutors on business executives if he thought they are compensated too well.

“Something is seriously wrong when the American people are left to bear the consequences of reckless corporate conduct, while the offenders themselves are packed off with another $40m or $50m for the road,” he said. “If I am elected president, I intend to see that wrongdoing of this kind is called to account by federal prosecutors. And under my reforms, all aspects of a CEO’s pay, including any severance arrangements, must be approved by shareholders.”

So, from what I can tell, the difference between McCain and Obama is that while Obama wants to unleash the powers of the U.S. state on private enterprise, but not invade the world, McCain promises to be at war with everyone. So, we are left with a very depressing prospect that whoever is elected president is vowing to destroy the U.S. economy and throw more and more people into prison.

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3:35 pm on June 11, 2008