This is, pardon the pun, rich.
McCain today called in a bunch of business leaders to consult with him on the Wall Street mess, including Mitt Romney and Meg Whitman, who collected $10 million for running eBay in 2007 (while arguably setting the stage for a 50% drop in stock price over the past 12 months.)
Also on hand was John Chambers of Cisco, a $40 million man, but at least his company hasn't crumbled (since the tech crash, anyway.)
But richest of all McCain's was John Thain, the best paid corporate fat cat last year. He got $87 million for running Merrill last year -- and probably did OK this year as he ran it on into the ground.
Wonder how these folks feel about limits on executive pay?
from MSNBC:
McCain has stated repeatedly that the bailout package should not allow large payouts, called "golden parachutes," for executives at failing firms like Merrill Lynch. Asked whether he believed the panel of business titans agreed with him on that principle, McCain said, "I think this group of people are as knowledgeable on the financial status of America as any group of Americans that I can find."
Certainly, few are more qualified than Thain on both overcompensation and bailouts.
And put these three CEOS and former CEOs together with Carly Fiorina, who did OK while ruining H-P, and you do have easily more than a hundred million worth of CEO meat per year.
But a guy who's campaign manager worked for Fannie, however much they might deny it, might think twice about hanging out with these guys.
Particularly Thain. I doubt he's looking out for taxpayer interests,