Does anyone think this is not good news? Do the Republicans in this Forum disagree with Obama on this move? How do you guys spin this to make it look like Obama is wrong?
http://www.nytimes.com/2009/02/04/bu...y.html?_r=1&hpU.S. Plans to Curb Executive Pay for Bailout Recipients
By EDMUND L. ANDREWS and VIKAS BAJAJ - The NY Times
Published: February 3, 2009
WASHINGTON — The Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan.
President Obama and Treasury Secretary Timothy F. Geithner will announce the executive compensation plan on Wednesday at 11 a.m.
Executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends.
The new rules would be far tougher than any restrictions imposed during the Bush administration, and they could force executives in the months ahead to accept deep reductions in their current pay.