At times, the issue of whether the government should set limits on executive pay as part of its bailout package can seem complicated. “It is not appropriate for government to be setting the salaries of executives,” Scott Talbott, senior vice-president for government affairs for trade group the Financial Services Roundtable, told the Times today. And we can kind of see his point — that is some creepy neo-communist shit. But then again, with all due respect, Scott, fuck you. Because of this, for one:
In the late 1970s, chief executive pay was 35 times that of the average American worker. In 2007, the total compensation of chief executives in large American corporations was 275 times that of the salary of the average worker, the Economic Policy Institute, a liberal research organization, estimates.
Right, so that is insane. But also, look: We'd hate it if the government was setting our salary, too. Unless we worked for the government. Which in some ways what folks who opted to be bailed out would be doing. So look, if you're going to participate in our neo-communist system, then please, just accept our neo-communist paycheck.
In Bailout Furor, Wall Street Pay Becomes a Target [NYT]