Barney Frank, the chairman of the House Financial Services Committee and a vocal critic of Wall Street pay, appeared on CNBC this morning to talk about what should be done to limit executive compensation. Let's just say it didn't go well. Frank stormed off the set after exchanging heated words with CNBC's Mark Haines.
"It seems to be that you're dealing with a model that no longer works," Haines said of Frank's proposed executive pay rules, which would give shareholders much greater control over compensation.
Then things escalated. After Frank said, "May I respond sir?" several times, the interview devolved into a mini-shouting match. Frank ended the interview abruptly -- apparently, in anger over being interrupted several times.