Well well well. The Obama administration is forcing massive pay cuts on some of the top executives in companies that received TARP funding. A lot of people seem happy about this, but the happiest are probably these companies’ competitors. What a great opportunity to poach some top talent and leave the government’s wards to stumble forward with a second or third string team at the top. What a great way to give a big advantage to foreign firms at the expense of American firms!
I doubt having second raters running the show bothers Team Obama – look how well that’s worked for them!