What Government Should Do On Pay--The Market Ticker

[Diesel]

I really got a kick out of this article posted on market ticker at http://market-ticker.denninger.net/archives/771-What-Government-Should-Do-On-Pay.html

Enjoy

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For any firm that takes government TARP money:

All salaries and other compensation must be "re-graded" under the "GS" scale for civil service.
The CEO is designed "SES".
All other legitimate executive positions may qualify for SES grade.
Professional positions (e.g. traders and analysts) qualify for "ST" pay scales.
All others must be re-graded from GS-15 on downward.
No exceptions.
​

You don't like this deal, you can give back all of your Federal Bailout money you've received up until now. Give all institutions 30 days to either disgorge all such funds back to the government or re-grade their employees.
No exceptions.
And no bonuses or stock awards either. The Government doesn't give them out for civil service employees.
The people have every right to demand that employees of government-funded institutions, including banks, operate under the General Schedule pay scale, as they are effectively government employees so long as they are sucking on the Taxpayer teat.

 

[KevinD]

:laugh: :laugh: :laugh:

 

[Minnow]

That article was hilarious. But, is he really that far off base? As a matter of principle, where is he wrong?

 

[CapeChem]

The government should have no say over a private companies compensation structure....Then again that private company has no right to come begging for a government bailout when it utilizes bad business practices....and in turn the government should have the cajones to not offer a bailout.

 

[Viva_La_Migra]

The government should have no say over a private companies compensation structure....Then again that private company has no right to come begging for a government bailout when it utilizes bad business practices....and in turn the government should have the cajones to not offer a bailout.

Well said!