"Rave for some Common Sense"

I don't know about you but as I am pulling my tax info together this year and realizing the losses we have taken on our IRA's and 529's it disheartens me to hear that while taking our hard earned dollars to bailout Wall St. (these same companies) have been handing themselves some rather large bonuses... Finally someone with some common sense so let's hear it for Claire!

Sen. Claire McCaskill's Impassioned Speech On Executive Compensation!

Below is the gist...

"Going forward if you want taxpayers to help you survive, if you want the people at your financial institution to have a job tomorrow, then you're going to have to limit everyone's pay at your company to the same salary that the president of the United States makes," said McCaskill from the Senate floor. "Now once they're off the public dole, once the taxpayers aren't footing the bill, then it's not as much our business what they get paid. But right now they're on the hook to us. And they owe us something other than a fancy waste basket and $50 million jet."

What do think?

posted by Stinkbugg:

I think it sounds good, but in practice, it's useless.  So now, the "CEO" has a cap.  Great, what about all the rest of the executive staff?  Someone clever can  promote the mailroom guy to "CEO", and move the current CEO to VP of Operations (or whatever fancy title you can imagine) and they can continue making their millions, running the company and still stay within the government law.  Personally, I don't care how much the CEO makes, so long as they repay the bailout money in a timely manner.  That, to me, would be a more manageable goal and is ultimately what the taxpayers really want.