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Location: Pantego, Texas, United States

Thursday, September 25, 2008

Regarding limiting the pay of financial company executives as Congress would like, it seems to me that honest guys will probably work for less than the promoters who run those comapnies get. So a CEO pay limitation may be a good idea for investors. I have a hard time believing that paying a CEO $20 million per year gets any better performance than paying, say $2 million per year. It seems to me that those large pay packages separate the CEO's from the real world. The CEO's need to realize that they couldn't play shortstop for the Yankees. There are only a few guys who have the talent to play shortstop for the Yankees, but there are thousands of guys who would be perfectly good as CEO of a financial institution.

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