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.
| The Daily Show With Jon Stewart | Mon - Thurs 11p / 10c | |||
| F#@ked or Fixed - Economic Crisis | ||||
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Comments:
"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.
http://mises.org/Community/blogs/tokyotom/archive/2009/06/11/executive-compensation-robert-wenzel-sees-a-quot-united-states-of-obama-quot-i-see-people-too-frazzled-to-give-a-screwdriver-to-a-those-who-only-have-a-hammer.aspx
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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.
http://mises.org/Community/blogs/tokyotom/archive/2009/06/11/executive-compensation-robert-wenzel-sees-a-quot-united-states-of-obama-quot-i-see-people-too-frazzled-to-give-a-screwdriver-to-a-those-who-only-have-a-hammer.aspx
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