JIM LEHRER: Is that a moral -- that's a moral issue?
DAVID BROOKS: Well, I do think it's a moral issue. I still think the McCaskill idea is just a terrible idea.
JIM LEHRER: Why? Why?
DAVID BROOKS: Because these are banks that depend on superstars. And there's not an ocean of superstars out there. And we may not like these people, but the fact is, to get a good CEO who can lead a company effectively, there are actually, if they can do it well, if they're Jack Welch or somebody, they're actually worth the money.
Now, that doesn't mean I'd buy into the hedge fund bonus structure, which was yielding $300 million bonuses. But, nevertheless, the reality is, to keep top talent from going overseas or wherever it would go, you've got to allow pay over $400,000 a year in New York City.
Did you see it?
Yeah, the people who managed to run the world's largest economy into the ground probably aren't worth the money. To borrow a phrase from Atrios, this has been simple answers to simple questions.
Bunch of morons.
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