Quote:
Originally Posted by BreakABone
I thought Compensation limits were only for companies that accepted TARP and was only until they paid the gov't back.
Wouldn't it motivate said executives to work faster and harder to pay the gov't back?
Or am I missing a step?
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Walking snot ball Barney Frank and others today were talking about making overall limits on compensation. I work from home some days so I have cnbc and Fox business on all day, so I think I have the jump on this.
Even using your case, why would executives be motivated to pay the government back? I'd be motivated to go to another company who didn't have to take TARP funds so I can make more money.
If they make compensation limits for every major corporation, why wouldn't you leave the country for extra millions per year? The top talent from around the world comes to New York for money, not sight seeing. There is no reason why the world's financial system has to flow through wallstreet, and if we hamstring ourselves it can and will move to other nations who are set to compete with us like China and India.
It just seems to me like the West thinks that it will always be in t he position of world economic power, and I think thats a very foolish idea.