Yesterday, President Obama said that companies that are bailed out by the US Government should have a $500,000 cap on top executive compensation. I completely disagree.
Earlier this week, Bank of America, which received bailout funds last fall, was criticized for hosting an event at the Super Bowl.
This is ridiculous. If the condition for receiving bailout money is that the company is going to be micromanaged by the government, they will never recover.
I don't have an answer for how this could be done better. It is a direct contradiction, capitalism and government bailouts. I didn't like the idea of bailouts when they were first done in September or October, and I like them much less right now.
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