As always there are loopholes in this compensation cap. Many of the highly compensated officers are excluded from the targeted figureheads of these companies. The plan also includes stock compensation that vests when the taxpayers get paid back. That part makes sense and I understand that these companies are in a self-induced tight spot. I just wish that the boards of these companies were the ones tightening the screws instead of the government.
I guess in a 'perfect' world - it wouldn't be necessary for the gov't to step in and regulate. But, since many of the boards are just as corrupt as the BAD CEO's -- what else is left?
I guess it is a both/and situation. Both the boards AND the government need to do all they can do to ensure that things run correctly for the good of all.
Being a sinful and fallen species - we need plenty of checks and balances . . .
