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Will Compensation Controls Move Wall Street Overseas?

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

John Tamny,  RealClearMarkets

As this column has regularly argued, government investment is never passive. Once federal bureaucrats slip under the private tent with aid masked as “investment”, all manner of controls are part and parcel of a private/public future. And as this column stated last October, compensation controls are never far behind.

So in the above sense, we shouldn’t be surprised in the least that the alleged stimulus plan being signed by President Obama today includes executive compensation limits for TARP beneficiaries at $500,000. That was inevitable, and as Nicole Gelinas of the Manhattan Institute has so astutely observed, if corporations want the presumed good that comes with government handouts, they must also accept the bad, which has to do with the fact that government employees aren’t paid in the way that private sector workers are. Let this be an indelible lesson for future failed enterprises naïve enough to think that government aid doesn’t come with strings attached.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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