This is starting to get ridiculous. It was one thing when Obama was complaining about Wall Street bonuses, but now Sen. Claire McCaskill of Missouri wants to cap the pay of any Wall Street executive whose company is taking bailout cash. While that's a nice thought, when you turn around and hand the same company several trillion dollars, capping executive pay in comparison looks...well...how shall I put this?
Immensely stupid. Seriously. This is not helping, guys. The problem is not that Wall Street types are making lots of money. You want to make a difference, Claire? Pass a bill that says Congress gets to fire all top management for running the company badly enough to require trillions of dollars of our tax money to save them.
Jesus, but the Democrats look like morons. C'mon guys, you can do better. Obama hasn't made many mistakes so far, but even I can see the GOP play on this one. "Why are we capping CEO pay when liberals are handing the company trillions in the first place? What kind of quid pro quo shop is Obama running here?"
And for once, the GOP would be right. The problem is not excessive Wall Street pay. The problem is the bailout.
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