The Democrats are right to put a cap on how much CEO's and Execs can walk away with in this. Corporate Greed is out of control and the Republicans have turned a blind eye towards it. What has happened to our party?
No but it's still a principle. The mess we are in now is bipartisan! The federal reserve and it's stupid easy money policy of the past 20 years, the democrats who put pressure on banks to lend to poor people, the republicans who deregulated the markets, the lenders who offered ARM's to people who no one could reasonably expect to pay once the real rates set in. Our Government at work!
One reason I'm not a big fan of the Bailout is because this is the ultimate gotcha for the left, to the point that Clinton News Network was really pushing the Bailout Outrage angle. What the heads of these companies get from this bailout is one thing, what they get in general is another, but the concept of the government telling rich WASP's how much they can earn has had the Left whacking their noodle for years. My fear is a President Barry would take this ball and run towards the collectivist/nationalism goal line like Barry Sanders. Good point, Ted about the Dems wanting banks to also give loans to poor people. There are no real heroes in this situation, but I'm sure the MSM will protect their own when telling/selling the story...
You ever heard of a group called ACORN? Black radicals (with a few left wing whiteys) who protest outside of buildings and shout and scream and knock over tables and blair loud rap music so the people who they are protesting can't talk. They showed up at national city bank crying about how they won't give mortgages to inner city Detroiters who have low incomes (and often bad credit). They showed up at our lobby door chanting and yelling. Move ahead 2 years later and back comes Acorn, protesting National City for 'predatory lending' to low income Detroiters. You can't win with these people.
Those firms are still free to compensate their CEOs however richly they desire. They just don't get to also benefit from the bailout package. How that could even conceived as remotely unfair is a mystery to me.
It's like my drug addict sister. She always wants to borrow money and then when I ask her why she tells me it is none of my business. But wait - it's my money so why isn't it my business?
I'm pretty sure that's what I said. However, executive salaries in general have been one of the Left's talking points, and this whole stiuation is likely to make that buzz even louder, especially with President Barry in the Oval Office.