Senator wants pay cap for bailed-out execs

Wall Street's looting of the American taxpayers via the government bailout has gone almost unchallenged - until now.

Now - after banking execs used bailout money to give themselves pay bonuses they didn't need to begin with - Sen. Claire McCaskill (D-Missouri) wants to rein in these greed merchants.

McCaskill called these executives "a bunch of idiots on Wall Street" and introduced a bill to limit the pay of execs of companies that get federal bailout dough. Their pay would be limited to no more than that of the President of this great U.S. and A. nation - currently $400,000 a year.

This proposed law is actually more than generous to the execs. The companies' lowest-paid workers probably don't make $20,000 a year, so $400,000 should be more than enough for top execs (who frankly don't work as hard).

The Wall Street execs may seem to be idiots (as McCaskill put it), but apparently they were just smart enough to know how to game the system and loot hard-working taxpayers. Obviously they got a lot of help from people in high places to get their bailout.

Idiots or not, they're certainly corporate criminals.

Naturally, right-wing former New York City Mayor Rudy Giuliani defended CEO's who looted the bailout funds to give themselves bonuses. Like anyone gives a shit what he thinks.

(Source: http://www.cnn.com/2009/POLITICS/01/30/executive.pay)