The Random-ideas-that-stink-generator at the White House is running quite smoothly, thank you very much.

Another day, another crappy idea to come out of the White House.

The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and other companies as part of a sweeping plan to overhaul financial regulation, government officials said.

The new rules will cover all financial institutions, including those not now covered by any pay rules because they are not receiving federal bailout money. Officials say the rules could also be applied more broadly to publicly traded companies, which already report on some executive pay practices to the Securities and Exchange Commission. Last month, as part of the stimulus package, Congress barred top executives at large banks getting rescue money from receiving bonuses exceeding one-third of their annual pay.

(Oh, really?)

(emphasis, ours)

Just so we're all on the same page, these "new rules" in whatever form, fit and function they will be applied, apply even to those private entities that are not receiving any bailout money. Someone inside the Federal government, be they from the Treasury Department or perhaps a Congressional committee will be passing judgement on executive pay and bonuses. Of course, doing this will not do one single thing towards actually solving the current crisis but it will allow the Administration to look like they are being "sensitive" to the public's apparent populist bloodlust.

Hey, while they are at it, why not print the names and addresses of those executives on the recovery.gov website. Congress would think that is a hell of an idea.

Yep. If there’s anyway to get the world of banking and finance back on its feet again while retaining any decent leadership at these institutions, it would be to regulate pay and bonuses and have the two-time tax cheat nosing around in everybody’s business .

We’ll hand it to the Obama Administration, though - just when you think they can’t come up any more crappy or crappier ideas, they hit the reset button on that generator and out pops another one.