The New York Times reports this morning that there are plans to institute a $500,000 salary cap for executives whose companies will receive large amounts in the proposed bailout. From that article:
The new rules would be far tougher than any restrictions imposed during the Bush administration, and they could force executives to accept deep reductions in their current pay. They come amid rising public fury about huge pay packages for executives at financial companies being propped up by federal tax dollars.
Executives at companies that have already received money from the Treasury Department would not have to make any changes. But analysts and administration officials are bracing for a huge wave of new losses, largely because of the deepening recession, and many companies that have already received federal money may well be coming back.
What are your thoughts?
Should the government institute executive salary caps?( surveys)
