As ThinkProgress first reported, CNBC’s Mark Haines offered a spirited defense of the wealthy last week, saying that Wall Street companies shouldn’t be managed by anyone making under $250,000 per year. Today, Haines defended exorbitant executive pay, saying that new compensation limits from the Obama administration are “scary”:
HAINES: There were some scary stories in the paper over the weekend.
HAINES: About this kind of thing, regulating or somehow impacting executive pay, even among financial companies that didn’t take government money. It’s getting scary.
CNBC’s Erin Burnett agreed, simply responding, “Yes.” Watch it:
Check out more on CNBC’s record of shilling for Wall Street at FixCNBC.com.