Are Executive pay cuts necessary in a recovering economy?

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Congress has almost finalized executive pay cuts for corporations that operate within SEC standards. Already approved are executive caps on any businesss that received a government subsidy. Bank of America received a government tongue lasting as well as some measures of intervention because of continuing to give the executives of newly merged Merrill Lynch investment firm million dollars bonuses despite receive a substantial bailout from the government. Executive million dollar bonuses seems to be the height of greed for companies making billions per quarter of every year. The paycuts or caps on executive bonuses should become standard. The opulence sends the wrong message in our society. Are you telling me that an executive would still appreciate 300,000 thousand as opposed to 3 million. Some executive may leave but if a standard is set accross the board by government where will they go. Great executives should be awarded in salary and that with bonuses that fit or more just economic structure. This new climate will stop some of the culture of greed that drove Enron, Citi Group, Leahman Brothers all into a financial frenzy. Executive pay cuts or caps upon bonus es just makes sense in a new just economy that will be strong domestically and abroad. Our economy must become more frugal and efficient and this is a place to start.