Norris Versus Geithner on Pay

New York Times columnist Floyd Norris has an interesting article today arguing, "there is little evidence that big pay — or the incentives connected to it — caused the financial train wreck that sent the world into recession." He frames his own argument as differing with Congressional Democrats, such as Rep. Barney Frank, but he doesn't mention President Obama or his Treasury secretary, Timothy Geithner, who said in a June 10 press release, "This financial crisis had many significant causes, but executive compensation practices were a contributing factor."