WASHINGTON, Feb 4 (Reuters) - President Barack Obama took on bailed-out Wall Street firms on Wednesday, setting a $500,000 annual cap on executive pay for companies getting taxpayer funds and tapping popular anger over financial sector excesses.
Obama said more such measures were planned in efforts to overhaul the crisis-hit U.S. financial sector that has been bailed out with billions of dollars of public funds.
Obama sets executive pay limits for bailout companies Reuters
Obama's salary cap could mean huge pay cut for top executives
CNN, The Associated Press
Wednesday, February 04, 2009
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While it should go without saying that even a legitimate President's "ordered" $500,000 pay cap is an unenforceable intrusion into the private sector, as if that weren't enough, Obama LACKS EVEN OSTENSIBLE AUTHORITY to issue the order UNTIL HE OVERCOMES "RES IPSA LOQUITUR" BY SUPPLYING HIS LONG FORM BIRTH CERTIFICATE AND PROVING HIS ELIGIBILITY TO BE PRESIDENT UNDER ARTICLE 2 OF THE US CONSTITUTION.
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