Free markets
The administration should not limit the pay for executives of banks receiving TARP money. This decision is bad for our free market economy, and may be unconstitutional. This decision doesn't make sense because talented individuals whose expertise is needed at those troubled institutions will go elsewhere to earn a salary commensurate with their abilities. Remember, Barack Obama fired the CEO of GM after GM received a bailout, and Congressman Barney Frank has proposed the government determine salaries of executives in all financial institutions. Do we want this level of government involvement in our free market economy?
JOHN MUGAVERO, Methuen
Need limits
Executives who work at companies that received bailout money should not get big pay. Limits should be set on how much money they receive. Washington bailed out these different companies then the executives turn around and give themselves a big raise. It does not make sense to me.
VIOLA HAYNES, Methuen
Limit compensation
In my view, we helped these corporations stay in existence with our tax dollars of the future. When many companies needlessly sold out to India, Mexico, or China, it nearly resulted in foreign control of our economy. Through the 1980s and 1990s, Japan, whom we have also helped greatly over the years in many ways, required that CEO pay to be no more than seven times higher than that of line workers. So if a line worker is making $10 per hour, the CEO would make $70 an hour and so on. This simple formula proved successful over and over in Japan. Here CEO compensation of 300 times that of workers is commonplace.
DAVID H. YAGHMOORIAN, Lawrence
Only right
I believe in our free market system, but since Obama's administration used billions of our taxpayer dollars to bail out failing businesses, it is only right that the same government stop the exorbitant and greedy bonus pay increases of executives of those same companies. The banks, auto industry, and other financial institutions failed at their businesses, and then we turn around and reward them for failure — doesn't anyone see something wrong with that? Without our money, the taxpayers' bailout, these overpriced bonus-seeking execs who have only excelled in failure, would be out on the streets!
JIM CASSIDY, Bradford
Two minds
I flipped a coin which resulted in my voting "yes" to this week's question. Flipping a coin says this about me: that I am of two minds about the matter. On the one hand, I recognize the right of an executive to ask his company to honor its contracts. On the other, that when a company holds its hand out to the "Feds" for help, that help, when it comes, comes with strings attached. There are two conflicting principles involved here then. One doesn't need to be a genius to see that. Therefore, my two minds have agreed to wait and see how the matter pans out. Cheers.
WARREN F. KELLEY, North Andover
Web poll results
Should the Obama administration be able to set limits on pay for executives at companies receiving bailout money?
Yes — 51.05%
No — 48.95%
380 votes counted.
