meritocracy

Just how tough are the Obama administration’s new executive compensation limits for bailed out firms? Well, as a hint, Wall Street sees them as no threat at all. Indeed, The Washington Post today gets a few telling quotes from bankers who are giddy that these are the only standards they’ll be held to.
“Our people kind [...]

Saying the Democrats’ Detroit bailout plan “guarantees failure at taxpayer expense,” House Republicans on Wednesday introduced an alternative blueprint asking union workers to take a pay cut and give up benefits.
The current powers that be — both in Washington and Detroit — can’t be trusted to fix a problem they created, the Republicans say. From [...]