It goes without saying that we should at minimum subtract $3-4 billion from anything that B of A will receive from TARP.
A 1- or 3-year across-the-board cap on finance salaries wouldn’t be terrible, frankly, and even if it creates hardship for employees, it will be temporary. And it is reasonable. We can argue about what a cap should be.
And for those who say you would lose talent, I say, so what? Talented people in an industry that screwed the rest of us. And who spent a decade making the top .5% of incomes in the US. Those with a 1-year time horizon are doing more harm than good in finance anyhow.