BusinessWeek’s “King of Wall Street” speaks out on corporate entitlement

MARIA BARTIROMO: How did compensation get so out of whack?
JOHN GUTFREUND: Because the ownership of the companies has no vote in what people get paid. The public shareholders have nothing to say about nothing. If they don’t like it, they sell their stock.
MARIA BARTIROMO: Should some of these people who oversaw institutions that failed or were brought to their knees be asked to give back some of their compensation?
JOHN GUTFREUND: Don’t hold your breath.