Perspective
Apr. 3, 2013
Executive compensation soars despite TARP restrictions
A 2013 report found that the special master "did not establish meaningful criteria" for determining executive pay at its covered companies, and that it "could not effectively rein in excessive compensation." By Jonathan Michaels
When the heads of the Detroit automakers made their famous trip to Washington DC in 2008, arriving in private jets and asking to be bailed out from their financial woes, the world was shocked at their level of disconnect. Did they really just tell Congress that they were broke and about to go under, while their $50 million jets waited on the tarmac? Many Americans would relish the opportunity to be so unfortunate.
The arrogance of t...
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