$500,000…
It seems the Obama administration has capped executive compensation for financial companies that received bailout money from the fed at $500,000. I’m guessing most people would think that’s fine and by no means do I think they are wrong to believe that. I certainly believe that taxpayer money should not get wrapped up in executive payments. However, I think the government shouldn’t be investing in failing companies in the first place. And, let’s not forget that not all financial companies wanted TARP money. They were forced! And, now because of this will be bullied into succumbing to.. shall i dare say it… “socialism”!
While I’m all for stopping the eccentric self indulgence of fat cat executives who mis-use company funds and cost thousands of jobs for their lack of business ethics and management, I don’t believe taking this step without the appropriate consideration across all of government be put in place. Simply put, you have to believe that there are many many people out there that make salaries exceeding $500,000 through contracts that the federal government grants (Tom Daschle case).
Is it really fair?
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