Professor Elam

Tom Sowell weighs in on exec pay via a Russian fable.  We are hearing much ado about limiting exec pay particularly in terms of the bailouts. While it is  a PR disaster in many cases, what the CEO is making is usually not the real problem. In the GM and Ford case, paying people literally not to work was one of the problems. Believing that magically telling Gm and Ford to build green cars is indeed a trip to fantasyland, GM and Ford are both working on this. The strength of the US Dollar keeps Ford from bringing its greenest diesel from England to this country, swell.

This is all about class warfare. And what does Congress know about building cars or supplying demand, look at how they handled Fannie Mae.