It's not that I'm against exceptions that prove the rule, but really. Wasn't it exceptional enough to let these people keep their jobs and not have their industry collapse? To them it may be painful to "only" make $900,000 or even over $1 million in one particular case. It's perhaps not quite as convincing outside of Wall Street. Also, doesn't the public who funded the bailout deserve to know precisely who is being paid here? Again, the public funded this bailout. The Obama administration could stand to be a bit more open about what is happening though time after time, they more closely resemble the Bush administration. What a pity.
Nearly a dozen individuals "deemed to be very essential" will be granted paychecks of more than $500,000. Most of them will earn between $500,000 and $950,000 annually. Only one indivual received over $1 million. Feinberg would not sy which companies these executives work for.If there are exceptions that are truly brilliant, the public should really know who these people are. As for the others, they sound pretty disposable so ditch them and bring in new blood. Anyone who wants to rush out and create their own company and risk their own capital, now would be the time to go.
The desire to get out from under this latest installment of pay curbs may very well explain why large financial institutions have been so anxious to return bailout money back to the government recently.
