“By limiting annual pay to $500,000 and dishing out additional pay in restricted stock that can’t be cashed in until the government bailout money is paid back, a host of unintended consequences may result, ranging from a brain drain of top talent to a potentially less-generous approach to paying employees at other financial firms.” (USA Today, Thursday)
We know what price ceilings do.
FEE Timely Classic
“Price Controls and Shortages” by George Reisman
Thursday, February 5, 2009
Obama’s Wall Street Pay Cap Could Have Side Effects
