Why can’t Congress limit executive pay?

Kind of amazing how things actually work out in real life as opposed to how they’re presented in the newspapers:

[Washington] Post readers may ask that question given that the Post told them that: “Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives.”

The rest of the article explains how the bailout legislation, as approved by Congress, is not likely to impose any serious limits on executive pay. So, Congress was apparently unable to do what it wanted.

The author then notes how Congress is usually able to make legislation do what it wants, but gee, it just seems unable to limit executive pay! Not that such an inability has anything to do with campaign contributions! No, no, no, no, that couldn’t be the reason!

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