Containing CEO Pay: A Case of Government Efficiency

Dean Baker writes: "The public is outraged over the enormous paychecks that are now standard for people who run large corporations. Compensation packages routinely run into the tens of millions of dollars, and it is no longer unusual for a top executive to walk away with hundreds of millions of dollars for their service. In fact, Robert Nardelli, the CEO of Home Depot, got paid $210 million to go away when the company dumped him for his failed turnaround effort. When it comes to CEO pay, it seems pretty clear that corporate America simply has no control."

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