Quote Originally Posted by Paul
They are still reporting bad numbers b/c they aren't changing the way they do business; instead they are using tax payers $ to support their bad habits

I understand the arguement for compensation limits for execs, but at the same time, they are a deathblow to any company that has to abide by them. Anyone with at least half a brain knows that too.

If you had a job that you made 200k a year and AIG came and offered you a contract for 50K a year would you take it?

Now think of it at the price levels of an exec at a major corporation. You are a pretty sucessful CEO of a smaller corporation making 1M a year. AIG needs a new CEO and they offer you the job. Do you take the the 50% pay cut to take a harder job? You know you will be ridiculed in the press endlessly. If you take a vacation or you take a division that just broke a corporate sales record out for a weekend at the spa and golf totalling 5 million (1% of their years profit) you will be in front of congress having to explain why you are an idiot and taking advantages of taxpayers. Why would you take that job?

What is really going to happen is that (insert corporation here)'s CEO will be someone that is only worth 500K a year. That means he will be some mid level exec that has never been in the big seat. He will be over his head from day 1 and will never recover, taking the corporation along with him.