Hold on a second…. Executive compensation will be reduced in the Pig Seven (the seven companies that split up the multi-deca-billion dollar bailout). The argument is against this is that with lower executive compensation, these executives will bail, go away, move to other companies.
But these are the executives that ran these companies so deep into the ground we had to ask the naked mole rats for directions when we went to bail them out.
So … why do we care of these executives stay vs. go away? Why are they still breathing our air?
Economists take note: You may be scientists. Or at least scientistic. But when I hear the old saws repeated again and again like a mantra, you are actually rather full of shit.
I’m not against the bailout. But I am against this abuse. I disagree that the top exec. compensation should be cut. They should simply be fired.
Don’t Slash Executive Compensation. Just fire them all, hire new ones, and pay what the market demands. Let them live with their theory.