3.27.2009

WSJ praises Van Hollen for what he didn't do....

... and that is a very good thing.

Apparently Sen. Grassley - now infamous for suggesting AIG execs go commit hari kari - sent a letter to every attorney-general in the country asking that they "look into" whether or not financial institutions are paying their executives too much. For a man making $175,000 a year for spending taxpayer money with the same discretion as Elliot Spitzer on a "date," it would seem that this is little more than a political witch hunt. You know, blame everyone else for the current problems and hope no one notices your own role in the mess.

Thankfully, our attorney general, J.B. Van Hollen, declined the Senator's request. In his response Van Hollen ended with a very powerful statement about the proper role of government in a free market:
"Absent specific information indicating a transaction is fraudulent as opposed to foolish, I will not use my office to threaten litigation in an attempt to micromanage Wisconsin's businesses. Corporate governance is generally a matter for shareholders, not public officeholders."
If only more public officials felt the same way.

H/T: Charlie Sykes