US to Order Big Pay Cuts at Bailed Out Firms to include requirment of federal permission for perks valued above $25,000, compensation of not more than $200,000.00 per executive, more.
Do you think they read BlueMassGroup? This is worth watching, closely.
Please share widely!
CNBC reporters were choking over this. Worried how in the world these bailed out companies would be able to retain the talent they have on board. Ha, ha, ha, ha, ha, ha.
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p>Because so many wall street investment banks are hiring?
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p>Many CNBC reporters are former employees of Wall Street firms.
was put in the Stimulus bill by Sen. Chris Dodd (D-CT).
IT’S ABOUT TIME. And nearly too late. Incredibly glad to see some backbone coming forth from Washington and only hope there is more to come. It’s the only way we are going to get back to an economy that is good for all of America.
Thanks Amberpaw!
This is good news, to be sure. But executive compensation, while symbolically important, is a tiny drop in a very large bucket when it comes to the numbers of dollars actually changing hands. Far more important is what the administration is actually doing to change the way Wall Street operates. And there, sadly, the news is far less encouraging.
http://news.bbc.co.uk/2/hi/bus…
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p>Not Wells Fargo, or Citigroup, or – well, here’s the complete list of bailed-out companies.
even though this is big news this week, it’s entirely possible that once the media dies down, it will not even happen. I’m sure the bailed out companies are scrambling to try to prevent it.
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p>You are so right, this is just a drop in the bucket. There is far more that needs to be done, that was promised would be done, and has been pushed aside for months.
is joined by Rep. Barney Frank, D-Mass., to talk about plans to limit the income of bank executives whose banks took federal bailout money.
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Thanks for posting this, Neil.