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Old 02-04-2009, 05:50 PM   #1
Newshound
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Post Obama unveils executive pay cap

US President Barack Obama announces a $500,000 limit on executive pay at US firms that needs government aid.

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Old 02-04-2009, 08:08 PM   #2
Steve_A
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Default Re: Obama unveils executive pay cap

I take my hat off to President Obama for this one.

He had to make a stand, although the bonus season has already passed by. But at least he showed himself to have courage (as long as the voters don't notice that the bonus season has passed by!) and that is what he needed at the moment.

It would be interesting to know how much the execs were earning before the income cap. I mean President Obama only earns $400 000 a year.

The execs have a year of bailouts to try and turn the ship around. If not, then there could be another justification for bonuses.

Let's wait and see.
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