Government Hypocrisy
If the CEOs of banks that take federal money, including those who took federal money only after Hank Paulsen essentially ordered them, have their salary capped at $500,000, under what principle do we allow universities that request federal funding to pay their own presidents much more money? Is there a rational basis for the distinction, or is it simply that the Democrats do not want to go after one of their most important constituents?
Forget about the university presidents, what about the football coaches? One Hundred Billion dollar banks can't pay their CEO's or deal-makers more than $500,000, but state-run football programs can pay their coaches $ 4 million dollars?
joshv:
Not to defend the practice, but popular state football programs actually make a significant amount of money via ticket sales and TV contracts. I doubt there are many programs with $4 million coaches that are a net fiscal liability for the state (at least as long as you keep the significant subsidy of athletic scholarships off their balance sheet)
March 12, 2009, 7:33 amTalkToThe Hand:
Most big-time state football programs have completely separate, essentially private corporations that take the profits and make the pay-outs of the popular (i.e., money-making) sports. None of the $$ comes from the states. However, they are certainly subsidized by the states with sweetheart deals involving parking, stadiums, facilities, etc.
March 12, 2009, 8:57 amscott:
That's an oxymoronic title you've got there Coyote!
March 12, 2009, 1:29 pmJon:
There actually is one distinct difference that I can see. Unless something has changed, the only coaches who get paid this kind of money are the ones that are successful.
March 12, 2009, 4:30 pmStreaker:
Well, I don't think he's calling for salary caps for football coaches, but pointing out the absurdity of calling for salary caps for anyone.
March 12, 2009, 5:28 pmAngus S-F:
Most^H^H^Hany football coach salaries are paid for by alumni donations. That aside, salary caps for government employees are not bad things, maybe they should make whatever army privates make ;-) ... if you belly up to the taxpayer-funded trough, you should make no more than minimum wage.
March 12, 2009, 8:29 pm