TP: For the past week, Sen. John McCain (R-AZ) has been railing against Wall Street “fat cats” and pledging to “stop multi-million dollar payouts to CEOs who have broken the public trust.”
This principled stance against excessive executive compensation, however, is undermined by the fact that McCain’s senior economic adviser and former Hewlett-Packard CEO Carly Fiorina received $42 million dollars in compensation after being fired from HP. On NBC this morning, host Meredith Vieira noted that Fiorina “is an example of exactly the kind of person you say is at the root of the problem.” McCain replied, “I don’t think so”:
McCain: Fiorina was a good CEO. She deserved her $45 million parachute, while 20,000 or her people were laid off.