Most of us are outraged when we hear about these Wall Street Execs and their bonuses, which are so much more than we little people make, especially when they are the recipients of our tax money. Tax money that wouldn’t be needed if they hadn’t bungled the running of their company in the first place.
In his latest effort to demonize Wall Street, Obama is expected to announce a plan capping financial compensation to the executives of companies who receive bailout money.
While my first instinct is to agree, something about this nags at me. Now more than ever, these companies are going to need the most talented people they can find to help bring them back from the brink. This compensation cap drives the truly talented away and ensures that only the mediocre will ever run companies that have received federal funds.
Don’t worry, I have an alternate plan: stop bailing out corporate losers!