Congress is seeking to limit the exec pay of companies that are in the $700 B bailout pool. There is of course widespread support for such a measure, ie, do not reward yourself if you are being subsidized.
But what about the big bonuses that were paid to execs at failed firms? Seems to me taht would send a much more urgent message, how about a few of those guys standing in orange overalls in front of the NYSE?
As I mentioned previously, after the rush to the Iraq War, everyone will be reluctant to put a quick OK on any proposal from this administration, Their insistence continues to show a lack of basic understanding of the psychology of what has happened already. But I am sure Hank Paulson and George Bush thnk they can pull this off without my help……IN retrospect it is a good thing Bush did change Treasury Secretarys, Paulson came in as a new guy not beholden to Bush this late in they Administration, good thing, this is a time that the Treasury Secy needs credibility. I don't think Snow, the last Secy, could have pulled such a negotiation off.
As usual, Tom Sowell talks commons sense about the 'bailout.' With the failures of government on
Iraq, a mismanaged war
FNM FRE BSC
Katrina
how about the poster child for govt agencies, the Post Office that just cannot seem to find a package sent two weeks ago to me from the foreign distant land of er ah Canada…
any realistic management of social security7 or meidcare, which is to say they have done nothing to put it on a sort of IRA invest your own money in your own heath care or retirement account,
Will America continue to buy the idea of govt solutions to our problems, I hope not.
Professor Elam 
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