Sen. Dianne Feinstein on executive compensation for the bailout

This is part of an email response Sen. Dianne Feinstein (D-CA) is sending to constituents who contacted her opposing the bailout.

Californians are frosted by the absence of controls on executive compensation. Virtually all of the 50,000 phone calls and letters mentioned this one way or another. There must be limits. I am told that the reason the Treasury Secretary does not want limits on executive compensation is because he believes that an executive then will not bring his company in to partake in any program that is set up. Here is my response to that: We can put that executive on his boat, take that boat out in the ocean, and set it on fire.

This is extraordinarily blunt language for a senator to use.

  • Cheryl

    She’s right! I was one of those letter writers. If I go bankrupt – I get squat. If I drive a company into the ground, I get canned with squat. Let those CEO’s & CFO’s walk with what is in their pockets. If they have to sell their McMansion’s or leave the keys and live in their cars – so be it. No different than a few million other Americans.

  • DJ

    Amen. And those who planned better will probably walk off with those McMansions and luxury SUVs for a song.

  • S. Cali

    This is so easy…If I know I can’t afford something and someone says here I’ll give it to you, you can pay me later. I know I can’t afford it. If I fail to pay, it is my fault for getting into it in the first place. Americans want everything and usually get it , usually by credit. We need to wake up and get back to basics. If this BAILOUT goes through, we are just postponing more of the same. Those fat cats got there because we were greedy. Stop them now or we never will.

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