MoghLiechty2 wrote:So to solve this, we're going to force the companies to lower their CEO pay? Is that going to make it so that future CEO's don't make bad business decisions? I'm aware that these companies' decisions contributed to the collapse, but how is forcably lowering the pay going to help?
By changing the atmosphere from one that accommodates mediocrity and satisfying immediate monetary needs ("this will be good in the short run and SHIT-HORRIBLE in the long run, but I won't be here in the long-run so HA!") to one that rewards long-term planning. Besides, the CEOs who are in it for the shitton of money are probably not the ones you want; you want the ones who love the job (we have this same exact problem in the teaching sector).
Anyway, this isn't about a silver-bullet solution. In the end, this is about punishing scapegoats. The CEOs were assholes, but so were a metric fuckton of other people. But when a company does some stupid shit, it's the CEOs who get nailed to the wall. From what I understand, that's part of their job description.
(And yeah, I know, this has some issues--this only applies to salaries and as we've seen salaries aren't the bulk of where compensation comes from--and it's not like this is really addressing the issue of corporate greed and inadequate long-term planning--but it's something, so I at least am not opposed to making CEOs wear funny hats and do fancy jigs for their corporate welfare checks)