With Treasury Secretary Tim Geithner by his side, President Barack Obama just announced the highly anticipated new executive pay limits for companies receiving taxpayer help under the $700 billion Troubled Assets Relief Program.
“In order to restore our financial system, we’ve got to restore trust,” Obama said. “And in order More…
Following up on Mary’s post, it’s also worth noting that the $500,000 executive-pay limit for bailed out banks to be unveiled today by the White House seems to apply to total compensation — meaning salary, bonuses, stock options*, everything.
That would be a sharp break from the Bush More…
The heads of Detroit’s automakers might be willing to accept $1 salaries as a condition of a federal bailout, but they won’t commit to capping their total compensation, even at $1 million.
So says Rep. Brad Sherman (D-Calif.), a liberal member of the House Financial Services Committee, which hosted the More…
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