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No Company Left Behind

March 22, 2009

This is from the New York Times article mentioned below (French Cowboy’s emphasis):

One proposal could impose greater requirements on company boards to tie executive compensation more closely to corporate performance and to take other steps to ensure that compensation was aligned with the financial interest of the company.

It’s so good to know that finally we have a government that helps those clueless companies to do what is in their financial interest. They used to depend on that unreliable and flimsy information from the market without really knowing what to do with it. And who came up with this silly concept of ‘the market’ anyway? No wonder Wall Street overpaid their employees and as a result ended up in the ditch. After all, this is how it happened, is it not?

But happily, from now on, because of the mediocre compensation President Obama will impose, only mediocre types will work at Wall Street and, as a result, there will be only mediocre financial crises. Problem solved.

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