Carly Fiorina - Looter Baroness defends the Barons

Why on earth is anyone listening to Carly Fiorina? Seriously.

In a commentary on cnn.com, she expressed misgivings about President Obama's plan to cap executive compensation at $500,000.

Instead, she says that CEOs that run institutions asking for bailout money should be forced to resign as part of the deal.

I suppose that might seem harsh to some, but when you consider that without a cap, these executives walk away with golden parachutes when they resign. You'd think that Ms. Fiorina would remember that, having drifted away from HP with a $20 million+ severance package, after overseeing the layoffs of 15,000 people, aggressively lobbying for the H1-B visa program to replace highly-skilled American workers with highly-skilled foreign workers, and setting up HP for another 25,000 layoffs after she left.

She says: "In this country, the opportunity to be rewarded for taking prudent risk is fundamental to our economic vitality and strength."

I'm not sure what she's objecting to here. Could it be that she's against "punishment" for taking excessive, reckless risks? These executives had the opportunity to be rewarded for taking prudent risks. They blew it in a fit of unbridled greed. (By the way - for anyone that thinks $500,000 a year is punishment - let's trade jobs.)

Although not directly stated in her commentary, I've also heard the argument that pay caps will lead to a "brain drain" and force talented bankers/executives to go elsewhere for the pay they deserve. Umm...yeah. So talented they led us right into a financial crisis second only to the Great Depression. Please, go elsewhere. And get your bailout money from "elsewhere" too.

There is a huge sense of entitlement in this country. Contrary to popular belief, the most damaging sense of entitlement isn't from welfare recipients and credit-card-carrying youngsters. The most damaging sense of entitlement is displayed by executives, bankers, and other high-rollers in the private sector. The sense that they "deserve" outrageously large compensation packages. The sense that they should be able to do anything they want with no consequences. The sense they "deserve" unfettered access to lawmakers. The sense that they "deserve" hero worship and praise for their "unique" abilities and skills.

Not everyone has the skills or talent to be an executive at a large company. But far more than enough people do. If the crop of executives that helped get us to this crisis are unwilling to work for $500,000, fine. Let them leave. They can join their failed business's other creditors in waiting for their severance package. I guarantee that there will be someone in that company who's more than happy to have the opportunity to run it for $500,000 and restricted stock options.