5:50 am October 22, 2009, by Henry Unger
Many readers of this blog have expressed outrage at the excesses of executive compensation.
But many readers also have expressed dismay over the amount of government intervention in the economy.
Now, those two views appear to be at odds with the latest news development.
The Obama administration will order the companies that received the most taxpayer bailout money to slash compensation to their highest-paid employees, the New York Times is reporting.
The plan, for the 25 top earners at seven companies that received exceptional help, will on average cut total compensation this year by about 50 percent, the Times said.
The companies are Citigroup, Bank of America, American International Group, General Motors, Chrysler and the financing arms of the two automakers.
What do you think of the government’s action?
Is it at odds with too much intervention? Or are these seven cases worthy of an exception?
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