On Wednesday, President Obama announced that executives of companies receiving taxpayer assistance through the TARP (or bailout) funds will have their salaries capped at $500,000 until the government is repaid the TARP loans. Is this a way of promoting responsible use of taxpayer funds or guaranteeing the flight of top-level talent of executives to firms not saddled by Obama’s restrictions? How are Wall Street firms reacting to this move? Is this the start of even more government intrusion into the free market? We ask Jack Gage, associate editor at Forbes magazine. We also get Jack’s insights on the merits of the current economic stimulus plan before Congress, as well as the Republican alternative.
