Obama Looks to Cut Executive Bonuses

Three months ago insurance giant AIG, the recipient of around $180 billion in taxpayer aid, incited a national uproar when it dished out $165 million in bonuses. Now the Obama administration is poised to take action to curb executive compensation. On Wednesday Treasury Secretary Tim Geithner met in Washington with Securities and Exchange Commission chief Mary Schapiro, Federal Reserve Governor Dan Tarullo, and the Ken Feinberg, the new special master better known as the "pay czar." Two issues...Full Story
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