A few days ago I caught Bret Baier on the television telling us about how the newly-created government agency, the Consumer Financial Protection Bureau, had an idea to pay all of its employees as if they all do a terrific job.
It seems they came under pressure to scrap their ratings assessments of employees when it was found out that people of color were getting lower evaluations than some white employees, and than the older employees got lower compensation based on assessment than younger ones.
Gee, I remember a time when we were supposed to ignore the color of one's skin and focus instead on their individual ability. But then, the new bureau is formed to fix it backwards; to penalize lenders for supposed racial discrimination when it is a person of color who does not meet financial standards.
So to fix the problem, everyone gets the best possible rating, and everyone gets paid for excellence they may or may not exhibit, just like everyone gets a loan regardless of their ability to pay.
I found a Wall Street Journal article online, and the first paragraph had me laughing out loud at the ridiculousness of it all:
"The Consumer Financial Protection Bureau on Monday said it would distribute extra compensation to employees who received lower performance rankings after a review determined the regulator consistently gave higher performance rankings to whites, younger employees and higher-paid workers."
Isn't it putting the cart before the horse, when you deduce that higher performance rankings were given to people who are paid more? Aren't people supposed to get paid more when they perform better? Not, apparently, according to this government bureau, and if it's happening in one, it'll soon spread across the entire obese bureaucracy.
The CFPB, created by Dodd-Frank is going to spend something like $5.5 million dollars to raise every employee to their highest scale. And the new agency isn't paying out small amounts to its upwards of 900 employees, either. Judicial Watch reported that, when the agency was formed, "CFPB workers being hired at salaries twice the maximum ordinarily allowed under guidelines published each year by the Office of Personnel Management. A dozen new hires take home more than $225,000 a year, and a student intern is currently being paid $42,036 "through completion of education & study as a communications trainee." And truly, if you look at the documents found by Judicial Watch's FOIA request, you'll see that, upon hire, a CFPB policy analyst was paid over $147,000 when the average policy analyst makes about $60,000.
Given the bureau's employees are paid twice the average, shouldn't the agency begin advocating the immediate doubling of all loans sought by people of color?
So, I guess you are already one special kind of a human being to work at the CFPB, but I wonder how the individuals who clearly work harder and smarter than others feel about being paid the same as their co-worker who don't give a damn.
Perhaps they'll start not giving a damn, too.
Collectivism and radical egalitarianism are being implemented in this case, and you can see the result without waiting for it to happen. Somebody who previously felt dissed by the boss, now has caused someone else to be uncompensated for their personal worth. Now, everyone is equal and no one is special. Happy?
Ronald Reagan correctly stated that, "A government bureau is the nearest thing to eternal life we'll ever see on this earth"- and it's too bad, because imagine the money we'd save if the bureau were defunded and everyone was fired now, regardless of their performance of course, and the new bureau was eliminated. So, since experience tells us the CFPB isn't going anywhere, and now it doesn't really matter if the employees care about their jobs anymore, what have we learned here?
Washington DC is clearly the best place to work. That is, if you think you aren't very special.