Well well well.
So much for the necessity of that bailout cash. Threaten them with executive salary caps in return for feeding at the trough and the pauper act comes to an end.
What a mess.
A lot of people here have been arguing that the Government should not dictate the salaries of bailed out companies. But the fact of the matter is that if there are no such consequences to taking taxpayer bailouts, then there will be no end of those companies who are willing to go to the trough and feed with the pigs.
If these rules were in place before the Bush boondoggle bailout, or before the Automaker bailout, there would not have been a bailout. GM and Chrysler and AIG and these investment banks would all have found a way to survive without going to the taxpayers and begging for welfare.