At the G-20 conference, President Obama signed on to an international regulation that states:
“We agree to a framework of internationally agreed upon high standards. We will set up a financial stability board with a strengthened mandate to extend regulation and oversight to all systemically important financial institutions, instruments and markets”—including hedge funds, all—anything that they decide is important to the system—to endorse and implement tough new principles on paying (ph) compensation and to support sustainable compensation schemes and the corporate social responsibility of ALL firms.”
The international community will now be able to determine the salaries and compensation of us all.
IS HE GONE NUTS???
H/T: Atlas Shrugs
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