Tuesday, June 09, 2009

I'm guessing that...

...The Secretary of the Treasury will create a new
"Bureau of How-Much-You-Ought-to-be-Paid".

How long before this Bureau is not limiting itself to executive compensation? How long before companies find a way around their limitations? How long would it be before we'd see companies' talent pool go John Galt because of these limitiations? How would the Bureau be better than the Boards of Directors, the stockholders--the Market for executive talent--at determining how someone should be paid?

In short: What could possibly go wrong?

h/t OptionArmegeddon

O/T: The NYT link to the SecTreas plan to regulate executive compensation has on its sidebar this story from the "Moral of the Story" column entitled "Give Women Guns". The author, Randy Cohen, we're told has 5 Emmys, one of which he "received [...] as a result of a clerical error, and he kept it." We're also told his Moral of the Story column is one where "he will examine a news story from an ethical perspective." He is also--no kidding--a humorist.

One question: How is it ethical to keep an item gained through a clerical error? Or is that supposed to be humor?

And were I less busy this week, I might try to fisk this thing, but right now I'm overwhelmed.

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