Pay Czar

I would like to go on record as saying I'm not to fond of this Pay Czar idea. Not only will have authority to oversea compensation for companies who accepted TARP money, but he may also be able to control executive pay levels for other domestic companies. The job decription is still a little fuzzy, but he told ABC News that "My goal is to reach out to these seven companies and meet with them and work out an acceptable compensation program -- acceptable to the business community, acceptable to the administration, and hopefully acceptable to Congress and the public. It's a challenge, but I think it's do-able."

I'm still left wondering why we're worried about whether or not the administration is happy with compensation levels in the free-market. The idea that we're now paying somebody, presumably with our tax dollars, to tell companies how much they can pay their employees seems unproductive, and scarily Big Brother. And I know he has requested not to be called a Pay Czar. But his actual title, Special Master of Compensation, doesn't exactly calm my fears.