Not many folks are talking about how Buffett is for compensation limits for the failed executives from bailed out banks.
While Buffett said Washington came together to respond to the financial meltdown “like they should” have, the government should have been more aggressive in dealing with bank executives at too-big-to-fail institutions that needed government intervention.
“If you run a financial institution that, in effect, can bring down the system unless the government steps in, I think something very bad should happen to you,” Buffett said. “I want to make it painful for them.”
Buffett said while he’s “not for shooting them,” the executives should not be able to walk away with even 10% of their previous net worth and the directors who hired them should also be punished