Friday, June 12, 2009


Jon Stewart on the Pay Czar

This is pretty funny. As usual, we are getting the worst of both worlds: Government control coupled with the very same "excesses" of a free system. If the government regulated executive pay and actually insisted on (the voters' sense of) fairness, that would be horrible economically but at least it would make sense.
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"excess of a free system"?

But who said the system was "free", except in the sense of free from shareholder overview?

The bonus orgies, especially in the financial sector but also in public cos., stems from SEC regulation of the equity markets and from the grant of limited liability to shareholders.
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