Wall Street may have had its collective head in the sand and it certainly reaped where it did not sow, but far worse than Wall Street's evils is for the government to dictate what can and cannot be paid in compensation.
Okay, the government already does that with the minimum wage, and the government obtained power over Wall Street because it "rescued" some of those companies. (In some cases, Henry Paulson forced them to submit, in a scene reminiscent of, oh, say, Henry VIII forcing Thomas More to cede power. Thomas More didn't, and he was murdered.)
Even liberals despise the term "dictator" but they are apparently happy when their government is a dictator.
It's funny -- I remember reading long ago a shocked reaction to John F. Kennedy's successful effort to "persuade" steel companies to hold down their prices. I was a liberal back then (and very young!) and I couldn't understand the negative reaction, as if this was some kind of precursor to greater government power. Of course, we have seen that greater government power, from Nixon's wage-and-price controls to today's unprecedented interventions.
Intervention is just a part of the scene now (even though, I just read, Nixon said in his autobiography that wage-and-price controls were a mistake). We learn, but we learn too late. And the learning today is at the kindergarten level.