Salary Caps – A Blessing In Disguise

… the limits [President Obama’s salary cap] could make it more difficult for troubled banks to retain their best executives.

Douglas McIntyre, 24/7 Wall Street

Or perhaps it’s an opportunity to get rid of the overcompensated morons who destroyed those banks in the first place.

Kvatch

7 thoughts on “Salary Caps – A Blessing In Disguise”

  1. “Sorry, kid, the maximum salary’s been set at 100k.”

    “But I’m your best dime back! I only gave up 18 TD passes last year!”

    Okay, it sounded funnier in my head. Just nationalize the fucking thing, can ’em all, and make em live on unemployment for a while. I’m sick of this half-assed class warfare.

  2. This was my favorite quote: “That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus.” [James F. Reda, founder and managing director of James F. Reda & Associates]

    Wall Street passed out nearly $20 billion in bonuses last year after helping to run our economy into the ground. People are losing homes, jobs and health care, and he has the gall to call $500,000 not a lot of money. I hope there’s a special place in hell for people like that.

  3. Randal… You know, I think I proposed something like that in one of my earlier posts: You take the bailout money, you resign…period!

    Kathy… Right you are! If $500K isn’t a lot of money, then please, Please, PLEASE…can I be poor like that?!

  4. I am sick to death of this corporate mantra that “if we don’t give these men (and they’re always men) obscene boatloads of cash, we won’t be able to retain the best and the brightest!”

    Well, guess what? The best and the brightest are the ones who have EPICALLY FAILED and screwed this country well into the ground. Maybe it’s time to see what some second-best and just a bit duller people — who are willing to work for a decent, as opposed to obscene, wage — can do at the helm.

  5. Amen and hallelujah. I suggest we just furlough them every Friday without pay like the Governator did to our State workers. Oh wait, that would put their doormen, maids and bartenders out of business like Guiliani said.

  6. Blueberry… If $500K is considered minor ducats, how do I get me a piece of that pittance?!

    Generik… In fact, I’m of the opinion that the whole labor system in this nation is perverted by the “obscene boatloads of cash,” that are paid out to even the lowliest, dumbest of Wall Street f*ckos. It’s no wonder nobody wants to do anything but get a business degree and head for Goldman-Sachs.

    Frogette… Maybe we could put the newly furloughed execs to work in the “clean coal” mines?

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