Today's Outrage: Get Obama Off Wall Street - TheStreet

Today's Outrage: Get Obama Off Wall Street

The government has no business assuming more power to set compensation rules for the private sector. That's simply not the American Way!
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President Obama should get the heck off Wall Street already.

The government has no business assuming more power to set

compensation guidelines for the financial sector.

We're talking about negotiated agreements between private parties. We're talking about free enterprise. We're talking about the American Way!

It's one thing for the White House to attach strings to taxpayer bailout dollars and impose restrictions on companies that received bailout funds.

AIG

(AIG) - Get Report

,

Citigroup

(C) - Get Report

,

Bank of America

(BAC) - Get Report

,

General Motors

(GMGMQ)

, etc - they all have to live with Uncle Sam's rules as the penalty for screwing up so badly that they needed Uncle Sam's money.

But it's quite another thing for Obama to interfere with businesses that have managed to remain viable without asking for a penny from the government.

Once this type of meddling is allowed, it can easily spread like a viral infection. It starts with telling banks how much they are allowed to pay their executives, and before you know it every company in the nation is forced to accept government limits.

When that happens, all the good executives take jobs in other countries or they move their headquarters to other shores to avoid the restrictions. We all know how things work in the multinational corporate world.

There's no reason that

Microsoft

(MSFT) - Get Report

needs to house its senior management in Seattle.

Apple

(AAPL) - Get Report

could just as easily run its business from the Cayman Islands.

Ford

(F) - Get Report

has a nice facility in Cologne, which is a beautiful city for executives to spend their time.

Let's not make America a place where top management talent fears to live.

Hall is the editor of

TheStreet.com

. Previously, he served as deputy editor and chief innovation officer at

The Orange County Register

and as a news manager at

Bloomberg News

in Frankfurt, Amsterdam and Washington, D.C. As a reporter, he covered business and financial markets, worked in both print and television in the U.S. and Europe, and conducted in-depth investigative coverage at

The Journal-Gazette

in Fort Wayne, Ind. His work also has been published in a variety of newspapers including

The Wall Street Journal

,

The New York Times

and

International Herald Tribune

. Hall received a bachelor�s degree in journalism and political science from The Ohio State University and has taken graduate management science courses at Boston University.