President Obama and Treasury Secretary Tim Geithner have announced a $500,000 maximum wage for employees of companies that receive taxpayer support. The rule will only apply to companies that receive future bailout funds. Oh, also, you’re going to be bailing out more companies.
Michael Vick, the allegedly herpetic former NFL quarterback and dog lover, has filed paperwork detailing the decent into financial ruin that lead to his bankruptcy filing in July of this year. Vick blew through $17.7 million dollars in two years preceding his Chapter 11 petition. If that sounds like a lot of money in a short amount of time, consider the fact that Vick has been imprisoned since November 2007. For those of you looking for some insight into Vick’s attitude towards money, the Smoking Gun points out that one of his check memos reads, “chump change.”