tag:blogger.com,1999:blog-3098264341625381422.post5153708013576964669..comments2024-03-18T17:01:07.165-07:00Comments on The Provocateur: The Executive Pay Slippery Slopemike volpehttp://www.blogger.com/profile/02999118519606254362noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3098264341625381422.post-81960565337499211792009-10-26T17:40:19.434-07:002009-10-26T17:40:19.434-07:00MV --- the economic "dream team" doesn&#...MV --- the economic "dream team" doesn't seem to think incentives are important, otherwise they wouldn't reward failure and punish success. <br /><br />@Anonymous, 11am: "Traders are a dime a dozen, just like in any other job." Sometimes less. The trouble is the good ones cost a lot more. And unfortunately, HAL9000 has yet to learn how to write algos, so people are still required for those.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-50437080325659098742009-10-23T18:13:50.779-07:002009-10-23T18:13:50.779-07:00You could make the case that acceptance of TARP fu...You could make the case that acceptance of TARP funds constitutes waiver of their contract rights. Or you could plead constructive bankruptcy, unconscionable contract, or any other kind of equitable relief.<br /><br />All the Constitution does is uphold the "Obligations of Contracts." But guess what? the courts are the ones who interpret what that is. And they get a lot of their interpretation from English Common Law, which has plenty of room for the government to maneuver.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-11278024816529195132009-10-23T13:25:48.481-07:002009-10-23T13:25:48.481-07:00Not sure if you caught Andrew Napolitano comments ...Not sure if you caught Andrew Napolitano comments on this yesterday. He was pointing out that this was unconstitutional. Sure the public opinion on these folks is not very favorable but it was the congress that rush through a bailout measurement that didn't have any provisions about pay and bonuses. Then they come in after the fact and pass something to target these few individuals. <br /><br />He felt that these executives, if they had a spine, could file suit.<br /><br />Further, they are stepping on private contracts... both of which are expressly prevented by the constitution.<br /><br /><a rel="nofollow">http://www.foxnews.com/video/index.html?playerId=011008&streamingFormat=FLASH&referralObject=10903768&referralPlaylistId=c985e69916535a2170b2b18ab0ab7eb60401f9bb </a>David Leachhttps://www.blogger.com/profile/06179453559350736430noreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-87985752365984138602009-10-23T11:08:47.376-07:002009-10-23T11:08:47.376-07:00The problem I see with government bureaucrats limi...The problem I see with government bureaucrats limiting executive pay is that they will do so arbitrarily. Where is GE's executive pay cut? They received a huge amount of TARP funds and other bailouts (which itself was ridiculous). <br /> <br />Executives with influence in government will not see their pay cut as much as the other execs. Keeping their pay is just another incentive for executives to make deals with the current administration in power. This is a huge incentive for more political corruption.<br /><br />This is also the same problem with onerous regulation. The feds can arbitrarily target businesses the administration dislikes, and give passes to the ones that play ball with them.<br /><br />This is just one big step toward bringing Chicago politics to Washington D.C.? How many people will speak out against corruption if those in power can control your salary? Even if they only control your bosses salary, your boss is not going to appreciate any opinion contrary to those who set his wage.<br /><br />If we are to have control of executive pay and other regulations they must be levied fairly and equally (which the government cannot do in this case). The government should not enact anything that is inherently unfair or unequal. Those in power love vague regulations and powers because they can arbitrarily enforce them against those they don't like. When do we consider ourselves a slave to the government and their arbitrary decrees?Joenoreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-39866151165225673792009-10-23T11:00:03.340-07:002009-10-23T11:00:03.340-07:00Paul Volker is right, take the anti-trust ax to th...Paul Volker is right, take the anti-trust ax to these banks.<br /><br />As far as the talent thing? Ozzie Guillen put it best when he said "pssh, please." Traders are a dime a dozen, just like in any other job. Most of the trading is done by algos anyway.Anonymousnoreply@blogger.com