2009-02-05
Holy Copulating Feces
(I've no doubt that these guys are serious. Emphases mine.)
Barney Frank: TARP's comp curbs could be extended to all businesses
February 3, 2009 3:01 PM ET
Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said. “There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today. He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies.
[...]
Mr. Frank seems to be in synch with the Obama administration in his plans for executive compensation. Treasury Secretary Timothy Geithner said last month that he might try to extend to all U.S. companies a restriction that prohibits bailout banks from taking a tax deduction of more than $500,000 in pay for each executive.
Barney Frank: TARP's comp curbs could be extended to all businesses
February 3, 2009 3:01 PM ET
Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said. “There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today. He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies.
[...]
Mr. Frank seems to be in synch with the Obama administration in his plans for executive compensation. Treasury Secretary Timothy Geithner said last month that he might try to extend to all U.S. companies a restriction that prohibits bailout banks from taking a tax deduction of more than $500,000 in pay for each executive.