The Latest "Big Bad Rich People" Bandwagon

So here's an issue that's been bugging people; fat bonuses and pay scales for executives leading organizations that are being bailed out.

http://news.yahoo.com/s/ap/20090203/ap_on_go_pr_wh/obama_bailout

What I think is being overlooked here is that executives work for profit and will go to where the pay is highest. The most capable executives go to where the highest compensation is. If you cut the pay, you no longer get the cream of the crop to run these troubled organizations and you end up getting inferior leadership. With inferior leadership the company will definitely go under, taking all of the bailout money with it.While its true that the government has the right to reuest certain conditions from anyone it lends money to (banks sometimes exercise the same way technique to influence companies, offering loans on the condition that the loan recipient take certain steps), by expecting the executives to lose pay the government will basically be forcing the capable executives to leave which will only make the situation worse. After all, wouldn't YOU quit a job where you got low pay and knew that you could definitely mke more money somewhere else? A better solution is to continue with the expected high pay so that quality leadership will come but tie the money to clearly defined performance goals so that failure is not an option for the executive leadership.Unfortunately, too many people have gotten on the "big bad rich people" bandwagon and are looking for any reason to tear others down and point fingers.