Pity the poor Czar.
The US poor pay czar is lamenting his task: how to limit the pay of executives at companies receiving a bailout without undercutting the ability of the firm to secure talented management. “It’s a delicate balance! Very difficult indeed.” Well, Mr. Czar, difficult for you, maybe, but a piece of cake for the labor market. That’s exactly what the labor market does, day in and day out, quite naturally.
Compensation should not be the purview of an appointed administrator serving at the pleasure of the executive branch of the U.S. Government.
[Market forces difficult to stamp on. Ed.]