Obama scraps fatcat pay cap.

Sorry if this has already been posted.

Before you all start yelling about how it makes him look weak, it's not a stupid a scenario as you might imagine to back down on the proposed pay cap for Wall Street Pay Packages. It's a security measure. the Fat Cats of wall street would suddenly start to see attractive prospects overseas rather than in the US where US interests are best served by them being there. Yes it's a U-turn from his promise, but it's not an inordinately idiotic one for a change.

www.guardian.co.uk...