Obama has entered a tricky arrangement after his G-20 summitt. He has agreed that the United States will be part of the Financial Stability Board – a new arrangement that will set standards for a global financial system and set regulation of financial institutions and markets. They can even get into the nitty gritty details of executive pay. There are 12 members of the Board – the United States being one of them – with 6 of the 12 coming from Europe.
Dick Morris has a good piece about it.
REPEATABLE: Obama seems to want the United States to be Europe…and this is not a good thing. We really don’t need other countries to tell us what the IBM CEO should be paid.