Billions in government bailouts have been approved for Wall St. and/or financial institutions and/or relief for mortgage lenders and/or homeowners and additional billions may be approved for the US automotive industry.
Despite some discussion, no regulations have been passed to limit executive compensation.
There is a simply way to find a figure appropriate for executives. Congress should mandate that compensation for all executives of companies taking government bailout money should match what Social Security has estimated will be the average monthly benefits to be paid as of January, 2009. That average monthly amount is $1,153 for Social Security retirement beneficiaries (or $1,064 for workers collecting Social Security Disability benefits).
Choosing this amount will first of all resolve the issue of what should be paid to executives. Secondly, using the average monthly Social Security benefits amount would focus on the importance of the Social Security safety net to its recipients.
All original content © 2008 Patricia A. Petow. All rights reserved, including the right of reproduction in whole or in part in any form.
Posted by petow 
Posted by petow 