What’s the difference between a quarterback and a banker?
I was startled last week when Mr. Obama, in an interview with Bloomberg News, questioned the case for limiting financial-sector pay: â€œWhy is it,â€ he asked, â€œthat weâ€™re going to cap executive compensation for Wall Street bankers but not Silicon Valley entrepreneurs or N.F.L. football players?â€
Thatâ€™s an astonishing remark â€” and not just because the National Football League does, in fact, have pay caps. Tech firms donâ€™t crash the whole worldâ€™s operating system when they go bankrupt; quarterbacks who make too many risky passes donâ€™t have to be rescued with hundred-billion-dollar bailouts.