I disagree that this is all a lot of pandering to a confused and ignorant public. People - and their representatives - are angry because the very jokers in AIG's financial products division who drove their company into the ground and precipitated a good deal of this mess are now being paid millions in bonuses essentially out of my pocket. No one seemed to have much trouble demanding that blue-collar GM workers renegotiate their "contractually obligated" benefit packages after the fact - so why not a bunch of financiers and managers too?
Also, interesting article - is retention pay really that necessary?
Link: http://www.nytimes.com/2009/03/18/busin ... ei=5087%0A
Toss the bums out. I'm sure you can get some plenty talented people in there who will work for a much more reasonable salary and do a better job than those jokers.
So how sure are you that there are plenty of talented people there who would work for less and do a better job?
I've always wondered how people come to this conclusion...
Alternatively, the other talented people you know who would work for less, might have done a worse job...
Isn't this all very speculative?