Obama caps executive pay tied to bailout money

[rayboyusmc]

Bout time. Let's see if they stop asking for our tax dollars now that they won't be able to use it to give themselves a bonus.

WASHINGTON – President Barack Obama on Wednesday imposed $500,000 caps on senior executive pay for the most distressed financial institutions receiving federal bailout money, saying Americans are upset with "executives being rewarded for failure."

Obama caps executive pay tied to bailout money - Yahoo! News

 

[manifold]

Of course after they shit-can the incompetent incumbent executives, they'll not be able to compete for top quality replacements.

 

[sealybobo]

While these companies are asking for tax payer help, $500k is more than enough. But once they pay us back, they can go back to raping the companies they run thru executive comp.

 

[rayboyusmc]

Of course after they shit-can the incompetent incumbent executives, they'll not be able to compete for top quality replacements.

No, today I would bet they could find plenty of competent people with the skills required to run these organizations and make a profit. It's not like they were hiring the best and brightest to begin with.

 

[manifold]

Maybe.

But from where I'm sitting, this move smacks of all PR, no material substance or impact. But hey, I'm glad you and bobo are thrilled.