I'm not so much in favor of capping executive compensation as much as I am in favor of executive compensation consultants/boards giving honest advice. The head of Merril Lynch said last fall they had to pay huge bonuses or executive talent would leave. Really? How many employed financial investment executives are actively job hunting (with hopes of a pay raise) in the middle of the financial meltdown? Too many executive compensation boards do shareholders a disservice by recommending higher than necessary compensation.
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