I think it's time for a mob riot to remind Wall Street bankers that $500,000 IS in fact a hell of a lot of money to most of the country.

Hooray for Obama. Finally, some fiscal sense coming into this bank bailout. So, let me see. They'll have to sell a boat? Give up that fifth car? Rent out the vacation home? Fire the nanny so the stay-at-home kept mom can't play tennis at 10:00 a.m. on a Tuesday before having her nails done? Oh the privation! Oh the humanity! Maybe she'll have to sell her handbag collection on eBay, he'll have to downgrade his scotch brand.

What they fail to realize is that ANY society is only seven missed meals away from anarchy.

You mean no more $6,000 shower curtains? That is draconian, socialist, and anti-American!

And no severance pay. Where else are they gonna go? How is the market for "executives" who have run their business into the dirt?

On second thought, these d-bags will probably keep turning up elsewhere, just like a bad penny.

I'm no fan of salary caps in general. The Government should not be in the business of setting wages. Shareholders should be, and in here lies the rub. The Government at this point may effectively be the largest shareholder. The compensation has broken for long time for many of these banks, and the blame firmly lies at the feet of shareholders. The spread of ownership has been a great boom to the market but a great detraction to actual responsibility. Paper shareholders on the most part do not behave like owners.

Also, compensation can exceed 500k in the form stock that can be sold only after these banks have paid their obligation to the Government. Seems fair to me.

The real fallout will be amongst the traders if they fall under this wage cape umbrella at these banks many of who will easily jump ship. And despite what many people believer there have been traders unaffiliated with subprime who have consistently brought profit to these companies. This would be loss, it's questionable that trading really should be core business at this point for these banks.

I can't think of a job I would trust them to do at any price.

Doctors, lawyers, movie stars, professional athletes - why should anyone ever make more than $500k in a year? When will Obama finally lay down the law and take control of this rampant capitalism?

Well, do I have to pay any kind of taxes on the income I choose to give them or can I make them live out in the chicken coop and throw them scraps? Can I make them come around every day to knock on my door to see if I have some odd-jobs for them? Can I make them sleep under the overpass bridge and eat at the City Rescue Mission?

If the answer is yes, heck, I might be willing to shell out quite a bit. These guys need to have a taste of the bread of shame for once.

I'm no fan of salary caps in general. The Government should not be in the business of setting wages.

I agree with this, however, this isn't a general salary cap, it's for those companies asking for corporate welfare. There's been a lot of these welfare types taking the money for personal gain, not to help the company or the economy for which it was intended. Make all the money you want on the free market, but once you ask for socialist style bailouts you gotta let the government decide.

That just screams, "I'm an overpaid, entitled, self-important douchebag with absolutely no sense of perspective or shame. Leave the premises before I call security..."

just try applying for food stamps...yet these bankers don't seem to understand that now THEY are on food stamps

There is no problem here with "capitalism" or whatever anyone will spout about this salary cap. The banks have two choices.

1. Don't take any government money. You know, be fully capitalist. They can then pay their people whatever they want.

2. Take the government's money and accept the conditions the government puts on it.

And frankly, capping the salaries should give these guys some incentive to get off the bailout train. Give them stock options or something that can only be cashed when the company is off the government teat. If these executives are so great that they deserve millions of dollars, let them earn it by rescuing these banks from the holes that were dug by other allegedly great (but obviously not) executives that were paid tens of millions.

But no one is forcing these banks to take money from the government. If they want privatized gains and socialized losses, then they can deal with the government demanding that they not blow so much money on executive salary. If they want to be fully capitalist and not take government money at all, then they can do whatever they want.

... just in case you feel the need:

http://www.jfreda.com/page/contact.php

I'll gladly do their job for $500K. After all, I can keep my checkbook balanced without help from any other taxpayers.

Brian Williams asked President Obama is change too hard, which is ludicrous. Of course change is hard and difficult. This President Obama has always said. However, the seeds of change are being sowed. The Obama Administration’s plan to cap executive salaries and his willingness to say “I screwed up”, is change we can believe in, don’t let the GOP tell you otherwise, as they do not want change!

The GOP pretend to care so deeply about the stimulus, when it is patently obvious and a derelict of their duty to the public, that the GOP are working furiously for the next elections and not the peoples’ economic crisis looming so large at this time. Some Republican Pundits charged with this task, call the Stimulus a stinking corpse, before it is even born, instead of what it is — a valuable work in progress for this country.

Like any creation, in the early stages, it is chaos and not fully formed, such as a fetus, a painting, any work of art, and yet the artist ploughs on knowing the beauty to be eventually created. Why in the world, would some Pundits criticize the early form instead of giving support, is beyond the pale, especially when they know to publically criticize it is to get the ball rolling to derail it. May be they do not love this country more than their party affiliation! These pundits sit in their high-paying jobs, so lofty, and pick apart every little thing someone says or does, Wears…., with nothing good to say, like their word is God or gold — as they no longer report the news but give their Opinions about the news. There was a time when we were taught as Americans, if you have nothing good to say about anyone, say nothing at all. We have lost that. These Pundits are a part of the problem and not the solution.

At this critical stage in our rapidly-crumbling economy, it would seem that the Republican Senators would do everything they can to do something, to tell the American people, I am on your side, and not always to quickly say no to the middle class and the little people; no to schools, education, infra structure, green jobs, all of which have too long been denied and neglected and Yet, always yes to the Special Interest Groups, to wars, to big oil and their tax breaks.

It is a sad fact that for average American citizens, the GOP is becoming the party of NO! For Gosh Sake, they turn to Joe the Plumber for advice and direction!!! We can not depend on the GOP to help us, or to be honest and ethical. They cry out for "instant" change from a dogmatic beauracray set in its own ways by men who do not want to lose their power. President Obama is well aware that change will not come easy. Does one get a college degree in a week, a month or a year? Does a seed develop into a plant overnight? President Obama has been in office a little over two weeks and they pretend they want miracles. It has been over 2000 years since Jesus Christ asked us to love one another, to do good to one another, to be our brother's/sister's keeper. Grounds have been made, yet we have a long way to go, for change does not come easy.

In 2010, we will know what to do! Vote Democratic....