Billmon:
Ordinarily, I’m sympathetic to the argument that public officials should be well compensated — because if the voters don’t pay up, somebody or something else will. (In Rep. Jefferson’s case, his freezer.) Also, congressional salaries basically suck. You could cover the entire payroll in both houses for about $90 million, which is less than what Dennis Kozlowski took home in one giddy year as Tyco CEO.
If one man can get paid that much money to drive an enormous, heavily leveraged organization straight into the ground, it doesn’t seem unreasonable to pay 535 people the same amount to do likewise. They’re just as good at it as he was.