The news that the Obama administration planned to limit executive compensation to $500,000 at firms that received government bailout money is already being met with outrage on Wall Street. Goldman Sachs wants to give back its billions and many top executives are now fleeing US firms. Is the salary cap part of the solution-or could it drive the U.S. deeper into recession?
Bill's $500,000 Kuwait Lecture
Salameh Nematt is an international writer for The Daily Beast. He is the former Washington bureau chief for the international Arab daily Al Hayat, where he reported on US foreign policy, the war in Iraq, and the US drive for democratization in the broader Middle East. He has also written extensively on regional and global energy issues and their political implications.
While his accounts are being scrutinized by Obama's search committee, a Kuwaiti account indicates Bill Clinton reaped $500,000 for a single speech there Sunday.
Lloyd Grove is editor at large for The Daily Beast. He is also a frequent contributor to New York magazine and was a contributing editor for Condé Nast Portfolio. He wrote a gossip column for the New York Daily News from 2003 to 2006. Prior to that, he wrote the Reliable Source column for the Washington Post, where he spent 23 years covering politics, the media, and other subjects.
Peter Beinart, senior political writer for The Daily Beast, is a professor of journalism and political science at City University of New York and a senior fellow at the New America Foundation.
Gerald Posner is The Daily Beast's Chief Investigative Reporter. He's the award-winning author of 10 investigative nonfiction bestsellers, ranging from political assassinations, to Nazi war criminals, to 9/11, to terrorism. His latest book, Miami Babylon: Crime, Wealth and Power—A Dispatch from the Beach, was published in October. He lives in Miami Beach with his wife, the author Trisha Posner.
Martin Jacques is the cofounder of the UK think tank Demos, writes a regular column for The Guardian, and is a visiting research fellow at the London School of Economics Asia Research Centre. His new book, When China Rules the World, is available now.
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