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A survey of 800 registered voters conducted by Public Strategies found that 63% of Americans are "much more concerned" with the debate on executive compensation than they were a year ago and 33% are "somewhat more concerned."
Some 80% have an unfavorable opinion of the chief executives of big banks. What's amazing to me is that 20% don't! 89% want to see some sort of clawback provision to allow companies to recoup funds paid to executives whose firms later collapsed.
This would seem to provide Congress with all the mandate it needs to implement very stringent pay controls on the companies participating in the bailout. If the taxpayers are being asked to provide more than $700 billion to the banks and they want executive pay controls to be part of that, then what's the question? Any bank that doesn't need the money that badly is free to reject it. It's a win-win!
Any rational argument against imposing restrictions on executive pay went out the window when the bailout bill was passed.
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