Good One, posted January 30, 2009 at 04:40 PM
Finally the Democrats have some balls. And it takes a woman to prove it! Senator Claire McCaskill has introduced legislation to limit all employees of financial institutions that receive federal bailout money to a compensation package no greater than that of the President of the United States. Brilliant. The limited would be Obama's salary of $400,000--and that includes salary, bonuses, and stock options. Right on.
Now, I don't see any reason why this will actually get through and made into law. I mean, the corporate forces are probably strong enough to prevent this from passing. Probably the best we can hope for is a watered-down version that's limited to corporate officers not being allowed to make more than $20-gazillion or something. But in the meantime, headlines like Angry senator wants pay cap on Wall Street 'idiots' look really, really good.
My suggestion to the readers of this humble blog: Call your senators and ask them to co-sponsor McCaskill's bill! Here's the phone number for the Senate switchboard: (202) 224-3121
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