Twist of Irony: Milken on Salaries
This seems like a real case of chutzpah.
Results of a survey by the Milken Institute, named after the junk-bond king who earned millions of dollars annually, show that Americans think a leading cause of job losses is overpaying executives.
The Milken Institute for Job and Capital Formation, a private, nonprofit research group, would seem an unlikely source for assertions that executives are being paid too much. Its chairman is Michael Milken--the same Milken who in 1987 alone was paid $550 million in salary and bonus.
The institute’s press release from Wednesday says high executive pay remains an “emotionally charged ‘fairness’ issue that many people fail to look at objectively.” It did not elaborate.
Milken pleaded guilty in 1990 to six felonies related to federal securities law violations.
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