Quote of the day

Another CNBC human travesty, host Mark Haines, on the what will happen if the million dollar Übermensch is replaced by a $250,000 counterpart.

HAINES: Let’s get back to what I regard as a fundamental issue here. I know it’s politically unpopular, politically incorrect. I know it goes against all of the populist indignation that’s out there right now. But you can’t really, it seems to me, expect that these Wall Street companies are going to be run well by a bunch of people who don’t make more than $250,000.

Call me a freaknik radical, but I don't think these companies were run very well by people pulling down tens of millions of dollars. What's the worst that could happen if we let some peon run the company for a laughable pittance of a quarter of a million dollars? He might collapse the world economy? You're right, too risky. It's a shame that you only become capable and smart when your paycheck pushes into that seven digit range.