This $500,000 cap is going to be a complete disaster for banks that get bailout money because all the top talent and "rainmakers" will leave to work at other smaller banks where their salaries aren't subject to the caps.

A bank is only as good as its people and relies on those people to win the bank the big deals that earn the big bucks.

We did absolutely need performance driven salaries but this draconian cap is going to kill one bank after another.

And I say this as a completely neutral unaffected observer.

@tony the tiger:

and might i add this will be a disaster to shareholders in those banks too.

Wait, the banks top talent that created this complete economic disaster will leave to ruin smaller banks?? Can you say deal?

I'm not going to pretent I'm business or financial minded, but is there a possibility that execs/CEO's would stand to make more money for themselves just letting their company fail? There's so many loopholes and shady trading going on out there, I just don't trust what schemes these people would pull with that kind of cap, just to put more money in their pockets. What is probably best is something really complicated, like a capped salary, but with incentives. Like if they pull their company OUT of the shitter, show progress, and start paying the government back, they can get performance-based raises. But that kind of system would be pretty difficult to regulate. With 500,000 dollars being so low in comparison to what they make now, I just have a sense of impending doom that these assholes would find some way to fuck things up even more, and completely screw over their employees.

Beware the law of unintended consequences on this one!

Wasn't it the "top talent" and "rainmakers" who caused this whole fucking mess in the first place? They don't seem very talented to me at all. Unless talent means driving a busines into the ground and then begging the government for a taxpayer funded bailout.

I think that if a failed bank is to get federal funds all these "rainmakers" and this "top talent" needs to be shown the door.

While it should go without saying that even a legitimate President's "ordered" $500,000 pay cap is an unenforceable intrusion into the private sector, as if that weren't enough, Obama LACKS EVEN OSTENSIBLE AUTHORITY to issue the order UNTIL HE OVERCOMES "RES IPSA LOQUITUR" BY SUPPLYING HIS LONG FORM BIRTH CERTIFICATE AND PROVING HIS ELIGIBILITY TO BE PRESIDENT UNDER ARTICLE 2 OF THE US CONSTITUTION.