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Wire Fraud and Executive Pay

Part of any bailout will almost certainly include limits on executive compensation.  The thinking (which is sound) goes as follows: If CEOs are coming to Washington for a hand out, they shouldn't expect a hand full of gold coins.  Many economists have suggested that CEO pay limitations are a bad ideal.  Alex Tabarrok, an economist who blogs at the must-read Marginal Revolution, writes: If you think the situation is very dire and also that Wall Street is ruled by greed then it's a disaster as the captain may prefer to go down with his ship, rather than give up the golden parachute (life-jacket?).  Thus, those who think the situation is very dire must be gambling on CEO altruism!Unfortunately, Mr. Tabarrok missed an important issue - federal criminal law...continue to full post

Full post as published by Crime & Federalism on September 29, 2008 (boomark / email).