Putting executive salary caps in place for companies who seek bail-outs is an excellent move as it will either inspire those on the cusp to sort out their own problems and avoid those salary caps by avoiding a bailout OR to accept a bail-out and with out accountability for past failures with an impetus to turn their companies around so they can pay back the bail out money as swiftly as possible and climb out from under the salary caps imposed upon them by the government.

Since the compensations for these top exec’s and board members are so far outside the common stockholders control, this corporate environment has created, in essence, a corporate aristocracy at the determent of the stock holders and the consumers. There is no one worth what these corporations are paying. It is my opinion that no top exec or board member should be compensated more that the President of the US. The Fact that some of these corporations exec’s took TARP money and then pain bonuses is outrageous and basically the corporate aristocracy is flipping the finger at all of us. Kind of like when the French aristocracy, during a famine and just before the revolution, in utter lack of concern for the plight of the starving people said “Let them eat cake.” The US corporate aristocracy shows a total lack of concern for the people of the US and outrageous arrogance in their actions and attitude toward the economic emergency effecting millions of Americans. What they are saying is even though our corporate greed was responsible for the current economic condition and loss of millions of jobs we expect, no demand that the US tax payer be obliged to maintain our current lifestyle. In my opinion, I believe these social leaches got off easy. In France the People rose up and executed the arrogant bastards.

Frankly, I don’t know what they are going to do. I think people really need to start thinking long term survival.

I tell my teens “Frugal is the new Black”

We have to recognize the action proposed by President Obama for what it is – a short term fix.

A fix that say: your banks are in trouble. Your banks will NOT be around IF the taxpayers money is not mobilized (reluctantly by some who opposed this since this fly against the capitalism system and culture that America is well known for around the world!). You are NOT that much of a talent if you can run your banks into the ground while getting paid millions (Right?)!

The long term fix is personal integrity of the people who are talented and are in leadership position in America – public or private spheres.

President Obama and his team are fighting an extrenched culture in the banking industry. As we know it is not easy to change a culture, what more an entrenched one. e.g. many spoke for guns control whenever there were senseless killing by someone in the USA while nothing changed seriously! e.g. some have highlighted the obsesity crisis American is facing against we are still seeing up-size everthing! e.g. we have been talking about gas efficient cars for years and yet not many people want to trade the speedster gas guzzlers for an electric or hydrid cars.

There are endless examples how difficult it is to change a culture. A habit!

So, we need to get behind President Obama on this crusade. It is a start. It will be controversial. The more we debate about it, the better.

Once we can see clearly how important it is that ALL talented people who are in leadership position embrace personal integrity, they will NOT over-pay themselves (with a 3rd party oversight), they will NOT over-consume and over-eat so that they need that multi-million dollar compensation pacakge!

President Obama need more people to share the same idealism. The idealism that will change even an ‘entrenched culture’!

Best regards
LU Keehong Mr.

I agree – either federal receivership or the daily presence of a DCAA auditor – those folks can find fly s*** in the elephant’s a**.

And what does it matter if it drives a stake through the heart of a dead business? I’d prefer my money to be in the hands of humans, not vampires (which is a good metaphor for what those people did to the world’s finances).