[rjw3000]

Some comments from another out of touch CEO, with a joke that only a CEO could find funny.

ABC News: $500,000 Executive Pay Cap: Reform or Political Gimmick?

I personally enjoy these and bolded my favorite lines:

"I think this is a guy worth more than $500,000," said Immelt who took home $19.6 million in 2007. "They should want to have the best people on Earth running these banks."

If JP Morgan Chase comes back to the taxpayers for more assistance, Dimon would likely be subject to the new salary rules. Immelt explained that in the new era of austerity, he has had to change his lifestyle. When he goes to Washington, D.C., he doesn't fly on a corporate jet.

"I take the train now," he said.

"I had to have somebody show me how to buy a ticket," Immelt added as a joke.

If these are the best people, I think we are in big trouble.

IMO, if Obama wanted to really hit home a statement to these CEO's of bailed out banks, he would've not even looked at imposing a salary restriction and instead went for jugular and would remove all the extras these guys get instead. The $500k limit is toothless when these guys can get paid in a myriad of non-salary ways. Take away all their perks and turn them into a regular employee like everyone else at the company and you'll really give them something to whine about. I would love it.