Christy Romero, the special inspector general overseeing the bailout, said that the Treasury Department allows such high compensation for executives at bailed-out auto companies as to create an incentive for other companies to seek bailouts.
“Absolutely,” Romero replied when Rep. Kerry Bentivolio, R-Mich., asked her if the Treasury Department had created a “moral hazard” by approving so many pay increases. “It shouldn’t be comfortable or luxurious to be in TARP.”
But it is — thanks to the politicians who put you and me in the position of enabling poorly managed companies to feed at the public trough.
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