Posted on 02/12/2010 8:12:27 AM PST by SeekAndFind
on the one hand, i don’t want laws taxing bonuses or “excessively high levels of pay” (anything more than I make of course) but it has got me to thinking that, while we can this CEO is “worth it” according to the market, but is the market for such “labor” at all rigged, even partially? I bet there are 10 other people who would be willing to be investment bankers and compete , maybe splitting that 7 mil bonus, and “settling” for 700k,
Does the government regulation effectively blunt competition such that more of these companies can not come into existence and drive salaries to a more reasonable level? In my own field, start up costs and regulation are daunting; once heard my CEO admit that big companies like regulation because a big company can comply more easily and the regs definitely constitute a barrier to entry
Goldmine Sacks has benefitted as far back as the Klinton amdinistration. Democrats know only one thing: crony capitalism.
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