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: The Illinois Personal Injury Weblog of Schaeffer & Lamere P.C.

A Cap on Executive Pay

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From the Associated Press via Yahoo News: "Obama caps executive pay tied to bailout money," by Jim Kuhnhenn--

President Barack Obama on Wednesday imposed $500,000 caps on senior executive pay for the most distressed financial institutions receiving federal bailout money, saying Americans are upset with "executives being rewarded for failure."

Obama announced the dramatic new government intervention into corporate America at the White House, with Treasury Secretary Timothy Geithner at his side. The president said the executive-pay limits are a first step, to be followed by the unveiling next week of a sweeping new framework for spending what remains of the $700 billion financial industry bailout that Congress created last year.


--Posted by Alton Illinois personal injury lawyers and the Alton Illinois car accident attorneys of Schaeffer & Lamere, P.C., handling lawsuits for accidents in Missouri and Illinois, personal injury Illinois and Missouri, products liability Illinois and Missouri, workers' compensation, medical malpractice Illinois and Missouri, Illinois truck accidents.

Full post as published by The Illinois Personal Injury Weblog of Schaeffer & Lamere P.C. on February 04, 2009 (boomark / email).

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