Over at MR, Alex T. bemoans the government's plan to slash executive wages at the 7 "most bailed out" companies. I respectfully disagree. These are State owned enterprises now and having an expert decide if the public is getting its moneys worth is entirely reasonable.
If fact, I think this is a trend well worth expanding in dealing with pay for people who are publicly funded.
I would be happy to serve as a "special master" to evaluate pay relative to performance at a lot of other publicly funded enterprises like say, Congress, the SEC, the Federal Reserve, Fannie and Freddie, the EPA, the Treasury and (just to be mean spirited) the office of the Vice President.
As to how I would rule in these cases, let's just say that Santa would be able to save on reindeer food because he wouldn't be coming to the DC area this year.
And yes, I do realize that I teach at a State University. Thanks in advance for reminding me.