It is not often these days when I read that a committee in the GOP-controlled House did something I want to applaud. But their vote to limit the pay of top executives at Freddie Mac and Fannie Mae gets a two thimbs up from me.
There are plenty of top executives who go to work at the Treasury Department or the Defense Department, etc., who could make much more money in the private sector. Some, perhaps, are only looking to pad the resume for a still-greater payday down the road. Call me naive, I think some undertake these challenging assignments at rates that are hugely lower than they could command in the private sector because they want to serve their country. But, whatever the motives, and most humans walk through life with mixed motives at most times, I do not doubt that these two organizations could recruit plenty of top flight executives without offering them multi-million dollar bonuses.