True to form, the Republicans are objecting to the idea of capping the salaries of executives that get federal bailout money.
“Because of [the executives’] excesses, very bad things begin to happen, like the United States government telling a company what it can pay its employees. That’s not a good thing in America,” Kyl told the Huffington Post.
“What executives have done is troubling, but it’s equally troubling to have government telling shareholders how much they can pay the executives,” said Sen. Mel Martinez (R-FL).
Sen. James Inhofe (R-OK) said that he is “one of the chief defenders of Obama on the Republican side,” but “as I was listening to him make those statements [about executive pay], I thought, is this still America? Do we really tell people how to run [a business], and who to pay and how much to pay?”
Look at it this way, fat cats: without all those millions of dollars, you won’t be tempted to invest it with people like Bernard Madoff.
HT to Boatboy.