Wednesday, February 04, 2009

The Wall Street Whine

I'm not sure I completely understand the legality of the president's salary cap for executives at financial institutions that get big handouts to stay afloat. I understand the philosophy behind it - to cap what appears to most normal Americans to be ridiculous bonuses, salaries and perks. I will say one thing, Wall Street ain't happy.

Wall Street Insiders Whine Over Obama Executive Pay Limits: ‘$500,000 Is Not A Lot Of Money’

Today, President Obama announced that top executives’ pay at companies accepting TARP funds would be capped at $500,000, with any additional compensation coming only in the form of stock options that could not be cashed until the government had been repaid. As news of the plan leaked last night, wealthy Wall Street went into panic [...]


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