Obama to Target CEO Pay Ahead of 'Bad Bank' Plan

The stimulus package is aimed to pour money into Wall Street to help the banks come out of their current economic state. Obama's administration is working on a "bad bank" plan that will buy the bad assets owned by the bank and relieve the pressure from the banks so that they can loosen the lending process and get the economy going. I am sure it is not as simple as I have put it here. However, I am happy to see that the CEO pay was considered a higher priority matter over the "bad bank" plan of the stimulus package.
It is indeed a good sign to see that the government is concerned where the money is going go before it makes it available. It is a very justified concern that it should not be pocketed by the CEO's and executives especially in view of the latest release of the executive bonuses in the Wall Street. Last year, inspite of the bad economy, huge bonuses amounting as high as $18 billion were paid to the executives in Wall Street. This amount is comparable to the bonuses that were paid during boom days of 2004. Isn't it a shame? It is not only being greedy and selfish but also being evil! The people in the company are loosing jobs, they are getting pay cuts, going through shut-downs but the executives in the company are getting bonuses! It is ridiculuous. The best part is that they are getting away with it. If I sound like a socialist, then yes I am - a bit of it. I do believe that that people who work hard should be paid a lot. I do believe that people should be paid according to their intellectual capabilities, according to their education and according to the work they put in. But there is a sense of justice and righteousness in this. It doesn't seem right that at a time of deep economic crisis, the rich are trying to become richer on the cost of poor loosing their jobs. Yes, if the company is making profit, then the executives should be rewarded. By the same logic, shouldn't the executives be penalized if the company's profit go down. Shouldn't they be held responsible for the company's loss? Instead, they are still rewarded because they tried but failed. I may sound a bit idealist - but the executives in the company should voluntarily give away their bonus and take a salary cut during crisis time. The CEO and the top grass are the leaders of the company - and this what leaders do!
Instead, the executives are trying to cash in when they can and scoot before the economy goes from bad to worse. They are getting ready for their retirement. But what they don't realize is that they are going to live in the society affected by the deep economic crisis. The recession is going to affect how the society functions. More people are going to be homeless. More kids are going to be pulled away from the schools. More crimes are going to happen on the roads. More poverty is going to surround the society. Yes, ofcourse for now they are safe and cozy - but how long?