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Sunday, January 13, 2008
Robert Bluey :: Townhall.com Columnist
A Pay Raise for Poor Performance
by Robert Bluey
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Members of Congress return to Washington this week $4,100 richer. During their three-week vacation, the annual cost-of-living adjustment kicked in, bringing the salary of a congressman to $169,300.

At a time when partisan bickering has dragged congressional approval ratings to just 25 percent, Democrats and Republican can agree on one thing: a pay raise for poor performance. Any American workers who had such dismal reviews would be fired. But in the case of lawmakers in Washington, it’s business as usual.

Support for the pay raise was among the most bipartisan issues Congress grappled with last year. An attempt to block the automatic cost-of-living adjustment was defeated in June on a 244-to-181 vote; 99 Republicans joined 145 Democrats to back the 2.5 percent raise.

What came as a surprise, however, was that three of the top four House Republican leaders supported the pay hike; only Rep. Thaddeus McCotter, chairman of the House Republican Policy Committee, voted against it. The party that claims to protect taxpayers sent the message that members of Congress were looking out for themselves rather than the men and women they represent.

Supporters of the pay increase argue that it’s a cost-of-living adjustment no different from what other government workers receive each year. They also note that many lawmakers aren’t wealthy and some can’t even afford an apartment in Washington on their six-figure salary.

One member we’re supposed to pity is Rep. Tim Walberg, a freshman Republican from Michigan who sleeps in his office to save money. But based on his vote against the pay raise, it doesn’t appear Walberg minds his living situation much.

“Michigan is in an economic recession and its leaders need to be making sacrifices to bring the Wolverine State back to prosperity,” said Walberg spokesman Matt Lahr. “The congressman has been outspoken about making tax relief permanent and felt it would be inconsistent to vote to increase his own pay.”

With Democrats showing little sign of extending President Bush’s tax cuts, it might be a while before Walberg fulfills his goal of making tax relief permanent. He might be sleeping in his office for years to come.

Another critic, Rep. Jeff Flake (R-Ariz.), doesn’t believe it’s appropriate for lawmakers to receive pay raises while the federal government is running a deficit. That’s a view shared by Rep. Jim Matheson (D-Utah), who has criticized the process for years.

Matheson was joined by 82 other Democrats in voting against the pay hike, about half of whom were politically savvy freshmen lawmakers.

Of course, not all members of Congress share the sentiment that voters express in public-opinion surveys. Some congressmen seemed very pleased with their performance judging from the reams of press releases boasting of pork-barrel projects in the wake of the mammoth $555 billion omnibus spending bill. With nearly 10,000 earmarks, lawmakers had plenty to crow about.

And let’s not forget another accomplishment: The House took a record number of votes, 1,186 in all. But only a fraction -- 180, to be precise -- became law. Those who called the Republican-led Congress a “do-nothing Congress” in 2006 might want to nickname this one a “post-office Congress” for all of the public laws passed to name buildings.

Members of Congress failed to tackle some of the most important issues facing America, such as health care and taxes. When they did confront them, they chose to punt the problem rather than find a long-term solution. For example, the State Children’s Health Insurance Program will now expire in March 2009, and Congress put a one-year freeze on growth of the Alternative Minimum Tax.

This performance is hardly worth a $4,100 pay raise. Taxpayers should be outraged.

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About The Author
Robert B. Bluey is director of the Center for Media & Public Policy at The Heritage Foundation and maintains a blog at RobertBluey.com
 
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whats the difference
We reward these Neo conservatives all the time by re-electing them.
Until America is taken back by the people we will continue to sink.

It's a competitive salary
You want it Bluey go out and get it.

I'm sure you'll easily beat the rep that is doing such a bad job.
Then you can vote yourself a pay cut - actually you can't you can only
make a raise for the next term rep.

Totally Disgusted!
I am totally disgusted by both sides of the aisle in Washington. The do nothing, get nothing done, do manage to agree on one thing.....greedily voting themselves more money, but denying our troups even the basics.
Disgusting!!Get ready to reach deep into your own pockets next year. You can bet your bottom dollar, these same people will get their greedy dirty little paws into your pocket for your hard earned dollars.

THE FIRST BROKEN PROMISE
More RED ink!

NYP– How about that Hillary Clinton: She’s already breaking her campaign promises - and she doesn’t even have her party’s presidential nomination yet.

Clinton yesterday reneged on her vow to explain how she’ll “pay for everything” she proposes when she pushed a whopping $110 billion “economic stimulus” package - and offered no fund source to underwrite its cost.

Gee, that was quick. Wasn’t it just a few weeks ago that the former first lady was an apostle of “fiscal responsibility”?

READ MORE

http://controlcongress.com/uncategorized/the-first-broken-p romise

To SeekerOfTruth
"We reward these Neo conservatives all the time by re-electing them. Until America is taken back by the people we will continue to sink."

The People have been the ones ELECTING those whom you term 'neoconservatives'! That's how a representative, elected government works, remember?

Congress wastes money on romance reg's
Congress has rewarded itself with a pay raise while wasting $ billions of taxpayers money on earmarks- special(wasteful)pet projects secured by unscrupulous Congressmen.

One of the most shocking "earmarks" last year was a $1 M grant secured by Congressmen Moran (D-VA) for the Tahirih Justice center to regulate internet dating by enforcing the IMBRA law and becoming the first "pen pal" police.

The Tahirih Justice Center is out of control. They spearheaded legislation to enact the IMBRA Act that shockingly requires American citizens to submit to background checks in order to use any website that focuses on international dating Introductions (i.e. people saying hello to each other). Just as certain military work has been outsourced to Blackwater (a paramilitary group) the enforcement of International dating and romance (a legal pursuit) has been outsourced to the radical left leaning Tahirih Justice center.

Has Congress has gone completely insane?

well
At least they took care of the pesky fence problem so Terrorist can not sneak in and do their business!

http://www.immigrationshumancost.org/text/crimevictims.htm l
Free Ramos and Compean
If we can’t have HOME SECURITY first, the rest just won’t matter!
http://fred08.com/
http://vets4fred.net/
NO MORE HOLDING OUR NOSE AND PULLING THAT LEVER!!
VOTE FOR A REAL REPUBLICAN!! NO MORE RINO’s!!!


Seeker of Truth
Dear Seeker,

I do agree with you, that we are already rewarding these Neo Conservatives by re-electing them, and while corporate America continues to watch cannibalism go on and on down on Wall Street, losing good jobs in the process, and the new buy out CEO gives himself a couple of million dollars raise, while he's pink-slipped half of the cannibalized corporation, isn't that just soooooooo American. If you can't make a profit on your own, find a company that does and buy them out. Now, who really deserves the raises there?

It's a new corporate world, where all those usual benefits that just used o be just a part of the job package are now pointed out as this marvelous package of benes that alone are worth...And if you can trust that your retirement from the company is going to be there when...well, I don't know about you, but I'd be stashing away $25-50 a week for my older years, and just in case those retirement funds don't realize, you'll have something to live on, because Social Security will only become available when you're 85 or something l like that.

Well, Ok, seeker, so I'm a little sensitive, I'm 54, and they have already raised the age I can retire and get full Social Security, but they are still saying there will be something. In any case I love my job at the college teaching Adult Basic Education for Adults with Disabililties, and we, the clients and I, are also so close, I feel what they feel, and can anticipate their needs, so it's like have an enormous family, and I can see me doing that until I can't move anymore. So, it works out right anyway.

Well, Seeker of Truth, I can only wish you have the joy of a fulfilling career so you too can enjoy working until you're 70. It's Sunday. God Bless.


Did Boehner support the raise?

I'd submit that if Boehner supported the raise as well as other self proclaimed conservatives we need to change the water filters in Congress and work hard to replace the Congressman and women themselves. They simply aren't getting the message.

The inflation adjustment is due to their own fiscal irresponsability. I like the Michigan reps vote but it is more political than effective.

Did we hear any complaints from leadership? Did they point out Democrat pork gorging and not participate themselves? Or are they just as satisfied with their economic irresponsability and thinking, "Oh, we'll just print more money. And we can offset that by another inflation adjustment next year." Reminds me of Nero and his fiddle.

Self-centered politicians
Do anyone of us that are paying their salary think that any one of these politicians are worth $169,300.00 for their do nothing efforts? The only thing they are good at are criticizing the successes our troops and theirs in charge are doing. We Have not heard anything encourageing from them or the media since our troops have been protecting us. They give themselves raises while criticizing supporting our troops equipment to keep them safe, and complaining about the economy, and this administration. Do any of us really believe they deserve a $4100.00 raise? I can only say,"Be Careful what you wish for", we voted for this congress last year, it is only a taste of what is to come if do not pay attention to what is really going on.

Take away the trough
The only sure-fire cure for hogs who gorge themselves and do nothing but wallow around in the sty getting fatter and fatter is to take away the trough.

Two words - TERM LIMITS.


Oh, wait
Maybe I should recuse myself from this discussion, because my husband, who is a veteran, got one of those cost-of-living increases - a whopping $252 a year.


Pride
I'm proud of my congressman, Jim Matheson(a Democrat no less) for opposing the pay hike. Every year he's been a congressman he has refused to accept the pay increase and given it to charity. Republicans take note.

BFD increase
The COLA Increase for my wife and I combined on our SSI was $34.00 TOTAL. These guys are ripping us off. Fire them NOW even though they will still continue to rip us off with their incredible retirement program

WWII VET..

$170,000
There is one positive way to look at this. If they were paid much less, they may be tempted more by bribes from lobbiest. $170,000 isn't living really that high on the hog. When Cheney went to work for Halliberton, and made the big bucks, he never lost a taste for high living, and may have brought him to his sad state of affairs.

Taft
$3200.00 a week isn't much money?Plus the fact that they get a hell of alot of perks,and they only work about 9 months a year.What in the hell does Cheney and Haliburton have to do with this article?GMAFB

union dude
Yes, its a lot of money. I didn't quite mean that. But for a professional, its probably average. Our school superintendent makes $150,000! Cheney's connection? I used him as an example of one of the many politicians, who after serving the public in office, go on to K-street, and get hooked into big money.

Tax Raise for Congress
Robert Bluey's article "A Pay Raise for Poor Performance" is a decent overview of why the members of Congress do not deserve a pay raise. On a principled stand, Senator McCain refuses to accept his pay raises unless the budget is balanced. But neither lack of deserving nor a principled stand are sufficient to override the strategic advantage of overpaying congress significantly so that even the least altruistically motivated and greediest members know the citizens of these United States are the source of their wealth. We should pay them each at least $1 million a year and give them a large travel budget so that it becomes silly stupid to accept graft or boondoggle trips of any kind. If you want to change the influence of lobbyists to the merits of the case they make rather than the perks they peddle, overpaying congress is a good start. (Ending all corporate taxation other than actual cost user fees would end all the tax break lobbying as well, putting the focus on regulations and strategic government investments, where it should be.) Over time we might inspire some good people to compete for the seats in congress who currently need private sector incomes in fairness to their families. But since we know right now (Rostenkowski, Cunningham to name two convictions) that the electorate sometimes places persons not immune to the temptation of graft into public office, out best defense is to make it silly stupid to take the risk. Just by making the absolute amount of pay high enough we will make it trivial for forensic accountants to detect payments large enough to even approach temptation. That would leave us just with the insane members of congress to worry about, which I sincerely hope is many fewer than the merely greedy.

Dolly and Brigida
Well, while I'm considering my retirement package, which isn't all that good, and my current salary working for a college, maing the great salary of $24,000 a year, God bless my MA., last year our President gave us a 2% increase, since we hadn't gotten an increase for over 4 years, and sooooo many were grateful for an increae at all, they just couldn't consider it comparatively. The newest news is that you will have to have a Ph.D. in order to be hired as an instructor at our college, unless you were grandfathered in.

I keep my education current with grad courses and taking licinsing exams every 5 years, even though the college doesn't require it, but for my own edification. Someday, I might go for another Masters in the Humanities, my mother so inculcated us in the fine arts when we were just children and frequently took us to the Museum of Fine Arts, and Symhony, Opera, Ballet, the Messiah every year, she saved all she could to expose us to these events, including Summer Season of Shakespeare, so that might be a very interesting prospect to pursue. But I have college loans now, and weakly try to get my son away on vacations, not very expensive, and I can see my son is building himself up for it. His uncle died from a heart attack at 35, just pushing himself too hard at IBM, and, I have to make my son take a vacation, he's only 24. Well, at least he takes his job seriously, he's not extra baggage on the company, but they do have protocals.

Well, Dolly and Brigida,

Remember there's more to life than your job. And get something out of it that no one can judge you for. Something you value for it's onw sake, like maybe shoes, or collecting pottry or art. Or go visit an old age home and remind them what it was like to be young again. Just an idea. And remember those Democrats that actually did forgoe their raises to help the needy; then you' on he righ track.

Oh so very sincerely,

Jeanne-marie


You get what you pay for.
The median income for Fortune 500 CEOs in 2005 was over 8 million. You have to wonder why we should expect the brightest and best to work in government when we limit the salary to that of a mid level manager in those same companies. The salary for the leaders of our country is a joke.

pork spending or pay raises
what difference does it make to these theives representing various districts throughout the country. Congress had fixed things so that these raises are automatic and the only way to stop them is to vote them down. Pelosi and reid ran on the promise that they would clean up the alledged cesspool of corruption is congress. But pork spending has continued unabated. The promise to work full time to pass a meaningful agenda for america has turned into a part time job for full time pay and no legislative record to speak of. The same reasons the dims ran on in 2006 is the same reason they should not be replaced. Pelosi and her pet monkey murtha and the totally clueless land deal reid havce made congress a running joke of inefficientcy, double talk and do nothing. America needs to talk a look at their congress men and do their duty and retire the various bums and thieves in the night raiding our national treasury with others who will pledge to put congress back in working order

They are NOT government employees!
They are representatives of the people. They ARE the government. The employees are the millions of people employed to perform the tasks approved by our congress. As such, an automatic cost of living adjustment should be verboten. They should be made to approve their raises as a matter of law.

taft
what of the numerous millionaires residing in congress. It is not so much the issue of their pay but how many are also extremely weathly prior to coming to congress. But no one is forcing anyone to run for congress. If they find the job doesn't pay them a wage that entitles to to a certain lifestyle they can always go back to their previous occupation. But with all the perks they recieve I doubt any would give up their seats in congress. But it is not just their salary but the golden retirement benefits are also quite costly to the taxpayers. But the lure of power is too much for them to walk away from.

That's Outrageous:
In the Oct. or Nov. issue of Readers Digest there was an article on all the "perks" that go along with that salary.
Their insurance LESS than $1,000.00/year, BETTER than my Medicare plus blue, total of $237.00/mo.
Their retirement, from 50 to over 100,000/year, depending on their time in Congress!
BUT, remember folks, MOST of these people are ALREADY millionaires!!!
They are ready to give all the illegal aliens in this country a "pathway to citizenship", which really pi$$es me off, because my State of Michigan has 7.4% unemployment, AND a HEFTY State tax increase in the fall!!! BUT NO cuts for the welfare folks, and NO cuts for the illegal aliens!!!
HELL no, they are ready to give the 10 - 40 million illegal aliens here amnesty, AND ARE ALL FOR FAMILY UNITY, which means that they can bring in the rest of their adult family!!! Get out the calculator!!
SO while most of the Presidential candidates want the "pathway to citizenship", they are NOW YAMMERING ABOUT a recession, PLEASE, spare me, the amigos don't have to go, but you can suffer because YOU won't have a freakin job!!
Go to http://www.zipskinny, and see how the invasion has affected YOUR community, first you will get the 2000 census, then click on the schools tab, YOU Just may get an EYEOPENER!!!
Take 49091 for instance, Sturgis, MI. 2000 census 8.6% Hispanic, 2005 US Dept. of Ed. from 11.3% in High School, up to 33.4% in Elem. SO who's ZOOMIN WHO????

Reward For Poor Performance
When I saw Bluey's title I thought maybe he was going to write about the honored practice of rewarding failed CEOs with sums of money that would embarrass King Midas. Silly me: I should have remembered that Republicans think that's a good thing to do.

COLA
Yes, I also got a increase of living raise on my Social Security Disablity, now my only income. It was so big I can buy 1 gallon of milk a month now! I vote, not by party lines, for the reason that I want to know that the person I cast my vote for has some good ideals to bring to the fight.
My feelings is to have each state to require before a Govenor can pass a tax hick, it must be voted on by the people of that state. It was done in Oregon to stop a state imposed cig tax, It took grass roots to get it on the ballet, so why not do the same to the congress? Take back our Fed, stop all lobby groups, no more back room deals by the life time congress members to enact policy for their own benifit?
It's time to take the Media to task for reporting only what they want, no more of giving away National Security Secerts.I do wish the gov would tell me where my military medical records are at?, but then they would have to pay disablity benifits to me, go figure?

JamieR 21
These ceos are not only part of the back room deals bunch, but the Board of directors have a vested interest in all forms of bills that become law, from the pushing of green, to the use of corn to make a product that puts out more crap than regular gas, also making the price of other food to move to highs that they make huge profits on by buying contracts, then shorting them as Goldman did to all of the competors. I will give some info to read up on, http://www.silverseek.com, read T. Butlers & others on the site to understand what has been going on. Read all of the back dated stuff to, it will be a rude awakeing for you to learn something that was not put out by the MSM, but just plain facts & truth. Support our troops & Vets.

What secrets?
>It's time to take the Media to task for reporting only what they want, no more of giving away National Security Secerts.<

So, you're in favor of getting rid of that pesky 1st amendment? Without freedom of the press, this country might as well pack it in as a beacon of freedom. And exactly what national secrets has the media given away?
If anything, the burden should be on the government to prove that something they do is necessary to be kept secret from the public, not the other way around.

Lilly, YOUR comment was ridiculous!
YOU think it is only a Republican thing???
Where is your head?
You think the Demoncrats don't take, take, take??
SURE they do, you already HEARD Obama, mama, ring a ling a ding dong, and Shillary tell us taxpaying public, that we will have to "suffer" while they help the poor, which to me is lazy welfare Mothers, popping out those welfare babies with NO fathers in their life, and the illegal aliens. It pi$$es me off when these people take, take, take, and we just keep on givin! I DON'T get any freaking retirement benefits from ANY Company that I worked for, we had to SAVE, and invest, and the Demoncrats think that a nice raise on MY retirements benefits is their honey pot, NOT!!!

Exactly...
they give themselves a pay raise for the privilege of undermining this economy. Truly pathetic. You can bet their stimulus package will be nothing more than more welfare - further inflationary burdens on the economy.

Also, for years, Cong. could tell
you 10% of your workforce had to be minority but that rule didn't apply to them. It is only within the last decade that laws Cong. enacts on the rest of us, it has had to obey itself.

We have created a permanent elite who have little to no regard for anyone but their own class, and they are virtually all millionaires. The Clintons weren't millionaries when they got to DC, but they both are now.

Edwards became a gadzillionaire suing drs. and hospitals based on the lie that delivering a baby could cause cerebral palsy. His millions are in tax-free trusts and unavailable accounts not offered to the average Am. who can't afford, and doesn't have the cash, to use them.

Obama is an empty suit with 2 terms in the IL leg. and one unfinished senate term that he's now not even available for to vote "present" as is his legislative wont.

Since this Cong. has done nothing (and a good thing because what they want is military humiliation in the Middle East and greater taxation at home) and shouldn't be paid anything.

Jeanne-Marie
If you are working as a teacher at a college and only drawing 24,000 you need your head examined.My guess is that a janitor at that college would be making that.

a counter theory to consider
An iconoclastic postulate-- we should pay Congressmen MUCH more. Here's why--> they deal with staggering amounts of our money, both raised from taxes and borrowed. Washington is a very expensive place to live, ironically because of the overpaid bureaucracy of govt. Fairfax County, Va. and Montgomery County, Md. are the 2 highest earned/per capita income counties in America because of bureaucrats and "beltway bandits"-- the myriad lobbyists, consultants, and lawyers milking your tax dollars.

It is true that many who go to Congress take HUGE cuts in earned compensation to do so because they can do so much better in the private sector. We should want to attract the bright and capable-- then tar and feather those who betray the public trust, which is MORE likely to occur at their current levels of compensation. There are almost 30 million who work for govt. at some level, but the relative handful elected to go to Washington is not the real cost problem there.

lilly
earth to lilly. The govt does not decide who becomes ceo's for publicly held or private corps. This is a function of the board of directors who enter into a contractual arangement with those they hire. Are some ceo's vastly overpaid, probably so. But the stockholders need to get more aggresive if they are unhappy with their boards and the decisions they are making. But in your delusional world you think your hatred of corporate america is enough to demand that govt take over puiblically held corps. I guess you are moving beyond mere socialism and getting closer to the same level of commie thinking espoused by the missus clinton. But I guess what are disappointed about is that you don't live in govt housing and have to shop at govt stores after presenting your ration cards that guarantees everybody suffers the same.

When a CEO starts making bad
decisions, and he lays off perfectly good employees to make up for his loses, and then his buddies on the board of directors give him a big fat bonus anyway (since he is on their board of directors, and will vote for a bonus for them in turn), at least the stockholders can sue.

But when congress starts making bad decisions, and then vote themselves a pay raise, who can sue them?

Just wanted to point out that these
"geniuses" in congress are the very same bozos that the Fair Tax Zombies want us to trust when it comes to rewriting the tax code.

Just sayin'...

Stockholders
The vast majority of stockholders in major corporations don't even know they're stockholders.

Most stocks are bought and sold as part of mutual funds, pension funds and various types of IRAs and other retirement or educational investments. These are the real movers and shakers in the corporate world, not individual investors.

My main retirement fund is a Russell Mutual Fund through AG Edwards. I have no idea what stocks they currently hold, or how often they buy and sell and in what amounts. So even though I'm technically a stockholder in lots of corporations, at any given time, I don't know which ones. That's true for most people.

Also
McCain is one of those Senators!! And he has a plan energy tax plan that will really get you up in arms.
Read the TH Blog about Rick Santorum on McCain (bumped) updated.
That will curl your toes

Correct name
TH blog
Rick Santorum and Michael Gerson on McCain (bumped with a new updaate)

Based upon Performance
This Congress controlled by the Demonrats should be paying America. This Congress promised to bring efficiency and honesty back to Government. Their actions to eliminate Earmark Transparency did just the opposite. Pelosi's selection of Chair seats, demonstrated right from the beginning that the Demonrats were not interested in meeting their campaign promises. The Demonrats attempt to protect Unions by eliminating the Secret Vote, which is what America is founding on, demonstrated again that they can't be trusted. When the Demonrats violated a vote on the Floor of the House, that which has never happened since our Founding, again demonstrated a total disregard for honesty, honor, and showed that they the Demonrats weren't interested in Partisian Compromise to accomplish our Nations woes and issues, which is what they ran on. The Demonratic Controlled Congress approval ratings were at one time 11%, which is just above dead, and again demonstrates that it is time to enforce Term Limits and Immediate RECALL's by the Electorate in each State and Nationally as well. Two, Four, and Six Years is way too long a term for those who violate their base and who violate their campaign promises.

Continued...
Will Immediate Recall be the Future of Politics, I doubt so, because they will be the ones voting for or against it. Will the People arise and force a Constitutional Convention to force Recall and Term limits and to Force the Government to Secure our Borders, not likely. So, all this is plain BS and nothing will change. Congress will continue to violate Americans and the GOP will continue to violate it's Conservative Base and the Demonrats will continue their Socialistic Agenda to the complete violation and losses of our Basic Freedoms and Liberties granted the People, and the MSM will continue to blatantly lie and misrepresent the facts and to indoctrinate the SHEOPLE into acceptance, and the end result ... Our Children and Future Grandchildren, etc, will forever remember that Our Generation was the Generation that allowed Communism and Socialism to destroy America and it's Freedom's and Liberties for all Future Generations.

Continued...
Will Immediate Recall be the Future of Politics, I doubt so, because they will be the ones voting for or against it. Will the People arise and force a Constitutional Convention to force Recall and Term limits and to Force the Government to Secure our Borders, not likely. So, all this is plain BS and nothing will change. Congress will continue to violate Americans and the GOP will continue to violate it's Conservative Base and the Demonrats will continue their Socialistic Agenda to the complete violation and losses of our Basic Freedoms and Liberties granted the People, and the MSM will continue to blatantly indoctrinate the SHEOPLE, and the end result ... Our Children and Future Grandchildren, etc, will forever remember that Our Generation was the Generation that allowed Communism and Socialism to destroy America and it's Freedom's and Liberties for all Future Generations.

utahnotmormon
"The vast majority of stockholders in major corporations don't even know they're stockholders.

Most stocks are bought and sold as part of mutual funds, pension funds and various types of IRAs and other retirement or educational investments."

Do you think that means that Company Boards aren't beholden to shareholders? Quite the opposite. Your mutual fund manager is compensated by how well he does with your money. If he is holding a few gazillion shares of a company that is not managing affairs well, he will dump them and they WILL feel it in the stock price. Merrill Lynch common did not plummet because you and your neighbors dumped your 50 or 100 shares, but because your fund manager dumped his 50,000-100,000 shares.
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