President Obama wants to set US$500,000 as the top pay for banking executives whose firms accept government bailout money. From Boing-Boing:
The lead story in today’s New York Times Styles section is all about the tremendous difficulties that executives at bankrupt companies receiving public bailouts will face if their salaries are capped at only $500,000. For example, many of these people might have to give up necessities like armed chauffeurs, twice-annual $16,000 vacations, and $4,000,000 summer homes. It’s really heartbreaking.