Questions on salary caps

Should we feel sorry for those executives** who have had their salary and bonuses capped? Not at all! Overall, their performance has indeed been shameful and I'm not alone in my outrage. Yet in the short run, neither the bonus pay nor caps impact many of us to any significant extent. Are their longer term implications? Viewed closely, bad actors are being punished and held accountable for their spending of federal funds. Reasonable people may be troubled by the precedent this sets, however. Stepping back, we see the federal government is setting private sector pay levels. Sure, they are receiving massive infusions of tax dollars, but a precedent has been set today that may be expanded tomorrow.
* Could that not impact a great many of us over time?
* Should we be going down this road?
*How long will it be before an unelected government agency decides that we make too much money?
* Is this what we really voted for and is this what we really want?
* Should we be concerned?

** DISCLAIMER: These questions are not necessarily directed at the bank pictured; it is depicted solely as a symbolic representation of companies falling within the scope of U.S. government actions and is not meant to represent their business practices in particular.