Why should it be otherwise? If these companies come to the Fed with their hands and their pockets out, then they by rights turn over their own self-ownership.
Is it nice? No. Is it fair? No. Would I oppose it if the government had at random nationalized a corporation for no reason? Yes. Is it legal? Oh, most certainly. Maybe it'll teach them a lesson not to entangle themselves with the government from now on.
The government shouldn't be controlling salaries. I would only ever support that if it was included in the bailout that the government could. While it's nice that the salaries are being cut, it shouldn't be the governments business to cut them.
