Multi-Million Dollar Job Offers For Failed Executives Apparently Finite

You will be shocked to learn that highly implausible claims that executives who simultaneously knew nothing about the actions that destroyed their companies and have irreplacable expertise would flee en masse if not given as much taxpayer money as they saw fit turn out to be false:

For months, Wall Street banks and the troubled automakers feverishly protested that their top executives would flee if they were not lavishly rewarded for their talents. New data, however, suggests the departures were more of a trickle than a flood.

Of the 104 senior executives whose pay was set by the federal pay regulator in the last two years, 88 executives, or nearly 85 percent, are still with the companies even though their pay was drastically cut back, according to people briefed on the government data.

The relative stability, at least within the executive suite, suggests that a soft job market, corporate loyalty and personal pride helped deter the feared management exodus at the companies hardest hit by the pay rules.