Dismay on Wall Street over Obama pay cap

Agence France Press ^ | 2/4/09 | Agence France Press

[Grim]

Wall Street and the business community gave a lukewarm response Wednesday to the US administration's plan to cap executive pay, fearing it may lead to a talent exodus and delay recovery in the finance sector.

The reaction came after President Barack Obama announced that executives of finance firms taking government bailouts would have their annual salaries limited to $500,000 dollars, a move aimed at protecting taxpayer interests.

[ml/nj]

You from UVa?

No. My degrees are from Rensselaer (RPI). My daughter went to UVa, and I sort of adopted it as an alter alma Mater. By now I've probably taken more classes there than most of the kids who attended and graduated.

I’m sure the profs cringe when they see us old farts in the classroom.

My experience is that they love it. (At least the ones who let me sit in. I'd say 5% or so decline permission for no reasonable reason. "Oooooh. Too advanced for you." as opposed to "I'm giving a test that day.") In cases where there is discussion, they know that they are going to get someone who shows up prepared to examine the points will be talked about. There are a few who've gotten to know me well enough to introduce me to the class and point out that I can be counted on to raise questions if I think there is something amiss. The kids seem to like it too. It's not unusual to be approached by some a day or two later who ask me if I was that guy in their history class, or whatever.

ML/NJ