High Executive Pay, in the face of decline...

...is here to stay.

I've been blogging about the absurdity of high executive pay for over a year now. Still these egomaniacs who are now receiving TARP funds are paying themselves 7 and sometimes 8 figure incomes. These people, who are receiving government subsidies to stay alive are individually making more than 50 average Americans! And Obama's response?

Obama Seeks Powers for SEC on Executive Pay, No Outright Caps

In the past I'd call this pussy footing, but I don't want to offend any pussies.

Please tell me why somebody who has run a company into the ground deserves anything more than subsistence wages? Please tell me why, for that matter, someone deserves being paid 100 times what the people (teachers) who gave them the skill set to do their jobs?


Where is the logic?



Here Bloomberg hedges and tells that any exec pay reform will make these firms uncompetitive. This implies that the execs are solely on board for their paycheck. They have absolutely no desire to see their company succeed. There is no incentive to do better. Argh!!!!

And check out the dude's fake tan as he says that "there is a lot of populist pressure to do this"...can we leave him in the tanning booth a bit longer and feed him to our pets?