Letter to the Editor

Micromanaging the bailouts

The right-wing media are outraged that the government is interfering with capitalism by limiting executive wages of bailed-out companies like AIG and General Motors. Are you kidding me? Have they forgotten that when you (the taxpayers) bring the gold, you make the rules? These "talented" executives tried to run their companies into the ground and came to the taxpayers for help. Of course they should get micromanaged by their main investor, the taxpayer. I have seen no similar outrage when a foreign-based multinational company, by hostile takeover, buys an American company and fires everybody (starting at the top) who interferes with maximum profits to send overseas.

Seniors on limited income facing massive inflation created by printed money and unemployed auto workers like our friends who lost their Chrysler plant in St. Louis should show little sympathy for executives who must first get permission to get their country-club membership paid for by the company.

When the government steps in to limit compensation on companies not bailed out, like Ford, then I, too, will be outraged.