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In response to "The NY Times pleads with the Obama administration: Wall Street executives *can't* live on $500,000/year! -- (link)" by Mop

What I've been pondering: What if this forces them to default on their mortgages?

Posted by ty97 Feb 10 '09, 12:53

They obvie bought houses based on a higher pay scale.

Responses:

I thought the cap was for new hires, not existing CEOs -- nm - con_carne Feb 10, 12:59 1
- That would take what little shred of sense the cap makes, and shred that shred. -- nm - TFox Feb 10, 13:03
Not only that, but their discretionary, "silly" spending keeps a lot of people employed. -- nm - loosilu Feb 10, 12:55 12
- And yet, I bet those people manage to live on a lot less than half a mil a year. -- nm - TaurusII Feb 10, 12:58 8
  - they'll have to when they lose their jobs. -- nm - loosilu Feb 10, 12:58 7
    - My question is, if they've mismanaged their companies so badly, why do these people still have jobs at all? -- nm - TaurusII Feb 10, 13:03 6
      - Too ritzy to fail! -- nm - Reagen Feb 10, 13:06
      - I'm not talking about the execs, I'm talking about the significant economy that their large salaries support. -- nm - loosilu Feb 10, 13:06 4
        
        Then why require them to work at all? They'd do less damage if we just gave them a couple of million a year. -- nm - TaurusII Feb 10, 13:12
        
        Does the government ever embark on wasteful spending in your eyes? - Loyola Feb 10, 13:11 2
        
        this isn't an outlay. this is cutting a stream of revenue. -- nm - loosilu Feb 10, 13:12 1
        
        It's an individual's outlay into the wider economy once he's received his wage packet that you seek to justify under the auspices that his spending of - Loyola Feb 10, 13:15
- So does wars. What's your point? -- nm - Loyola Feb 10, 12:56 2
  - *speechless* -- nm - loosilu Feb 10, 12:57 1
    - Forgot my smiley face :) -- nm - Loyola Feb 10, 12:57
I'm guessing they know someone at the bank that will let them slide. -- nm - Mop Feb 10, 12:53

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What I've been pondering: What if this forces them to default on their mortgages?

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