When the auto industry hemorrhages money and finds itself asking the government for a loan, much of the blame is placed on the union. Therefore, the union workers must suffer, make concessions, and take pay cuts.
When the financial industry executives hemorrhage money and destroy the world economy and find themselves asking the government for a loan there are no consequences, no new regulations, and no concessions. And, executives specifically do not have to worry about pay caps.
What a ridiculous and shameful double-standard.
Treasury to set executives' pay at 7 ailing firms.