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G.W. Bush Opposed Limits On Executive Compensation
Bush and the GOP Opposed Executive Compensation Caps
It is a rather curious spectacle to see congressional Republicans express outrage at the exorbitant bonuses being handed out by bailed-out companies and blame the Obama administration for failing to curb the practice with AIG. Because when the first installment of the Troubled Asset Relief Program was passed it was the Bush administration and GOPers in Congress who were insisting that caps on executive compensation not be part of the legislation.
The Hypocrisy Continues
Republicans Who Opposed Wall Street Salary Caps Last Month Now Condemning ‘Outrageous’ AIG Bonuses
As outrage mounts over the $165 million in executive bonuses paid to AIG staffers, many Republicans are trying to tap into the widespread public anger by striking uncharacteristically populist tones.
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However, when Congress debated limiting executive pay last month, these same key Republican lawmakers stood firm in opposing such caps.
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Remember it is a strategic competitive advantage to the stronger banks that the weaker ones have their exec comp limited… I don’t think Barak Obama will stand up to the execs at the stronger banks. I’ve just posted on this, in case you are interested.