Yesterday we learned that O was going to cap executive pay of people receiving bailout money. I called bullshit, and it looks like shockingly I was right. What should have happened was companies taking bailout money shouldn’t be allowed to lay off employees.
NEW YORK — The squeeze on big paydays for executives of bailed-out banks will probably leave Wall Street plenty of wiggle room. Consultants on executive pay say the caps imposed by President Barack Obama on Wednesday will probably apply only to a few executives _ not star traders, brokers and salespeople who routinely earn whopping pay packages.
This was/is the type of change I believed in