09.29.08

Only the second best

Posted in Society at 9:40 by RjZ

Tom Wolfe did some (limited, but at least real) research before arriving to the same opinion I had. The U.S. government is edging closer to putting the control for hundreds of billions of our tax dollars into the control of very few people.

One compromise being made on the way is to limit the salaries and golden parachutes of the CEOs formerly in charge of these failing banks. The logic of which is compellingly populist. Why reward these guys for failing? (Many U.S. Americans are already asking: ‘why bail them out?) Democrats are insisting there should be a limit on their future salaries equal to about what we pay the U.S. president: $400,000 per year.

As Mr. Wolfe already points out, the smart guys have already left those banks and found other vehicles to fuel their wealth and greed. If salaries are limited, why wouldn’t the very best go find other careers that can give them enough cash to wallpaper their living rooms? What these sharp witted politicians are saying, in essence, is that we don’t really want the best minds managing $700 billion in taxpayer’s money. We want the mediocre folks who can’t really warrant a top-class salary and therefore are glad to work for the highly regulated U.S. government with 537 micro-managers in Washington (House of Representatives, Senate, President and Vice President….)

But don’t worry, they won’t be greedy.

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