Washington Post,June 11, 2009 on page A1: Compensation Czar to oversee firms at heart of crisis:
The Obama administration named a compensation czar to set salaries and bonuses at some of the biggest firms at the heart of the economic crisis, as part of a broader government campaign to reshape pay practices across corporate America.
Such is the topic of distribution of income and wealth in America in Economics classes in the past decades that I taught as an educator in the field of the science of change and choice with wisdom.
The initiative reflects public uproar over executive compensation which has been stoked "tianranliao" in Pin Yin by the financial crisis. Lawmakers who approved the government's $700 billiion bailout for the financial system last fall worried that taxpayers would end up financing the lavish lifestyles of top Wall Street executives.
I have reason to believe that lifestyles are the contributing factor of the economy of any nation as Economics is a behavioral science dealing with human behavior.
The late President Kennedy's words for Americans:"Ask not what the nation can do for you but what you can do for the nation" Such expression would imply non-lavish life style and to have concerns about other less fortunate folks with charity re eleemosynary deeds.
Your feedback would be cordially invited.
Please note: Pin Yin expressions just poped up in my mind for your reference. I have reason to believe that such expression would be interesting for those who do not know Pin Yin and would be refreshing for those who have knowledge of Pin Yin. I hope I am not incorrect in such assumption for fun.
Francis Shieh aka Xie Shihao,an octogenarian graduate student from China to study American English and American culture of economics on June 11, 2009 at 12.02 p.m..