I saw the following article this morning...
Geithner: No caps on pay for corporate executives - Yahoo! Finance
Interestingly enough.... just an hour before I saw another article that said Obama was going to seek a limit of 750k max for executives. I guess someone told him that would not go over too well.
I would love to know though.... where exactly in the constitution does the Pres or some Czar appointee who is not elected by anyone, have the power to start tinkering with someone's pay? Where is the Supreme Court here? Will no one make a consitutional challenge on this one?
If the govt has the right to set a private companies executive pay, then they also have the right to set anyone's pay that they choose. It can be argued whether exec pay is fair or outrageous, etc. But I would think it could not be argued that legally this govt move is illegal, and without precedent. I just want to hear the Supreme Court try to justify this one.
Geithner: No caps on pay for corporate executives - Yahoo! Finance
Interestingly enough.... just an hour before I saw another article that said Obama was going to seek a limit of 750k max for executives. I guess someone told him that would not go over too well.
I would love to know though.... where exactly in the constitution does the Pres or some Czar appointee who is not elected by anyone, have the power to start tinkering with someone's pay? Where is the Supreme Court here? Will no one make a consitutional challenge on this one?
If the govt has the right to set a private companies executive pay, then they also have the right to set anyone's pay that they choose. It can be argued whether exec pay is fair or outrageous, etc. But I would think it could not be argued that legally this govt move is illegal, and without precedent. I just want to hear the Supreme Court try to justify this one.