Class: [Animated discussion re: Tyco, and whether there is such a thing as "excessive" CEO compensation--arguments touched on the distinction between bad business decisions and "excessive" compensation and on the idea that, presumably, CEOs are paid at whatever rate the market sets]
Prof: [Asks whether we think the punishment of the former Tyco execs was appropriate]
Student: [Says that he thinks the punishment was a bit excessive]
Prof: How do you know that's excessive?
Student: The market didn't set that penalty!