Pay Czar May Not Have Too Many Execs Left to Rob

It seems that the very idea of the government coming and stealing their pay had people looking for the exits for months already.

At Bank of America, for instance, only 14 of the 25 highly paid executives remained by the time Feinberg announced his decision. Under his plan, compensation for the most highly paid employees at the bank would be a maximum of $9.9 million. The bank had sought permission to pay as much as $21 million, according to Treasury Department documents.

At American International Group, only 13 people of the top 25 were still on hand for Feinberg's decision.

The funny thing about this is that a guy that is paid $21 million will probably be paid that same amount at some foreign firm and the only people hurt are the taxpayers. You figure you want the best people you can get at the helm if we want to see our TARP money again.

Instead we probably will get some unqualified person that will work for substandard pay instead of the best and the brightest. Who would want to work at AIG if some unelected czar will cut your pay at a whim?