When the HopenchangersTM here in Iowa helped to vote Obama into office, I wonder if they considered the effect on Iowa's economy.
The reason I ask is that the Grayson-Himes Pay for Performance Act of 2009 passed the House of Representatives on April 1 (no joke).
As I mentioned the other day, it gives Tim Geithner the ability to control the wages of all employees at companies that were forced to take TARP money.
Wells Fargo is one of those unfortunate companies. Wells Fargo didn't want the money. Wells Fargo is financially sound. Wells Fargo employs thousands of people in central Iowa.
Salary caps on folks in the area? Is that in the future? Only Tim Geithner can say. But given the inclinations I've seen thus far, and with all this talk of "sacrifice" by Obama, Wells Fargo's new supah CEO would be jointly Tim Geithner and Barack Obama, if it passes the Senate.
Is that what you voted for? Really? If not, at what point do you begin to oppose your guy?