Performance based pay

(Via Mr. Chittum again)

Jonathan Weil goes off on Wall Street pay (emphasis added):

Here’s all you really need to know to see who lost and who benefited most at the Five Families of Wall Street, otherwise known as Goldman, Morgan Stanley, Merrill Lynch, Lehman Brothers and Bear Stearns. From the start of their 2004 fiscal years through yesterday, the big standalone investment banks lost about $83 billion of stock-market value. During the same period, they reported about $239 billion of employee-compensation expense. So, for every dollar of shareholder value destroyed, the employees got paid almost three.

If education used same inverse relationship of value provided to compesation paid out - we'd have lousy schools with millionaires in their classrooms.

I wonder what the Washington crowd would say about that, seeing as they are so silent about Wall Street's compensation?