Today I read that President Obama's administration will not ask for caps for top executive pay for those corporations that did not receive a bail out from the American taxpayers. This alarms me since this lack of prudence on capping top executive pay helped greatly to provoke the financial calamity this country has suffered.
Corporations that received taxpayer bail-out money do have restrictions on them. This is good.
If there is to be no capping of top executive pay, then checks and balances must be set in place so that (1) corporate executives cannot write their own bonuses, perks, or pay; (2) complete transparency of corporate pay is instated; and (3) immediate accountability and penalties for the infraction of items (1) and (2) stated here are implemented.
Big corporations and big financial institutions must not be allowed to jeopardize the financial well being of this country or the American people ever again.
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