Sunday, November 1, 2009

Cap Wall St Salaries

Watched Meet the Press with David Gregory this morning. He interviewed Tim Geithner (Obama's Treasury Secretary) . Geithner managed to evade most of Gregory's questions, but when the conversation drifted around to salary caps for bailed out companies it did get interesting. Geithner is unhappy to see companies taking tax money and handing it over to the suits who drove their companies over a cliff, and took the world economy down as a side effect. Gregory worried that salary caps would cause a flight of talent.
Not to worry David Gregory. The people having their salaries capped are the turkeys who caused Great Depression II. They are not talent, and the companies would be well rid of them. Plus in the toughest job market since 1929, they are unlikely to find work anywhere else.

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