New TARP Rules: Curb Executive Pay, Bonuses, Parachutes

Wall Street was bearish today over President Obama's new $500,000 pay limit for executives of financial institutions who he said have come "hat in hand" asking for taxpayers' help. The new limits, which would affect banks that accept "exceptional assistance" from the public treasury, would also impose stricter rules on golden parachutes, entertainment, holiday parties, conferences and the use of corporate jets. Scott Talbott, senior vice president of government affairs at the Financial...Full Story
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