The opportunity to get especially rich in the financial sector has lured smart minds away from more useful endeavors. It's led the sector to grow too large and too complex, and it's contributed to inequality and instability. When we bailed out the auto companies, we negotiated limits on union worker compensation. We should do the same for financial sector compensation to protect ourselves against bankers' tendency to greedily, dangerously, and sometimes dishonestly push the envelope in search of windfall profits and compensation. Compensation limits should be designed to bring the financial sector in line with other sectors. Great bankers can make as much as other great businessmen, but they shouldn't be able to contrive fortunes by gambling other people's money and manipulating the system.
What do you think?
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