Huh? What's Kudlow thinking?
Folks, I’m puzzled by this from the normally
sensible genius Lawrence Kudlow on his blog Kudlow’s Money Politics:
Why should a successful bank — whether large, medium, or small — give up ownership and allow pay-caps for executives?
My immediate reaction was:
Why should a successful bank — whether large, medium, or small — be asking for a government handout?
If they need bailed out – they are not, by definition, successful. And if they don’t need the money, they don’t have to take any strings that are attached.
There may be good arguments against pay caps (such as how to make them actually work), but this isn’t one of them.