New York City Mayor Michael Bloomberg has had enough of President Obama’s bashing of banks. Bloomberg says the president’s latest regulatory push will bust New York’s economy, leading to layoffs. (emphasis is mine)
The mayor was so upset about the move — and a suggestion that Wall Street bonuses be put in escrow, which means the money wouldn’t be spent here, wouldn’t help the city economy — he responded with a proposal of his own for members of Congress.
“Maybe we should hold back their salaries for a decade or so and see whether the laws they pass work out,” Bloomberg said.
Or perhaps the federal pay czar could arbitrarily decide that the president and members of Congress only deserve, say, $30,000 per year and no retirement or health insurance.