Here’s our editorial today, the beginning:
Three things about the Obama administration’s publicity-seeking move to curb executives’ pay at bailed-out companies: It is inevitable, it is stupid, and it is inevitably stupid.
And the end:
TARP was an emergency measure. The emergency has subsided, and the first order of business is restoring at least some separation between Washington and Wall Street, between political power and the private economy. The love of power can prove at least as corrupting as the love of money, and the American political class does not seem likely to resist either temptation, much less both at once.
And I have a column up today on the Feinberg business.