Normally, I oppose such restrictions, but when banks receive federal aid, the game changes. Of course, they shouldn’t have the federal aid to begin with, but if they get it then yes, I do think Obama’s exec pay restriction (and other regulations he is pondering) is in order. The argument can get complicated, but I think if we have those restrictions in place it will be a strong negative incentive for companies to take bailout money. Not just the red tape and the difficulty of attracting talent. But all that will make it harder for the company to gain credibility in the marketplace. Thus, the restrictions just for the companies receiving federal aid, are in order.