Feb. 5 (Bloomberg) -- Executives at Goldman Sachs Group Inc., JPMorgan Chase & Co. and hundreds of financial institutions receiving federal aid aren’t likely to be affected by pay restrictions announced yesterday by President Barack Obama.
The rules, created in response to growing public anger about the record bonuses the financial industry doled out last year, will apply only to top executives at companies that need “exceptional” assistance in the future. The limits aren’t retroactive, meaning firms that have already taken government money won’t be subject to the restrictions unless they have to come back for more.
C'mon Barry, I thought we could trust you with this.
No comments:
Post a Comment
Your comments are valued greatly. Please adhere to the decorum on the "First time here?" page. Comments that are in violation of any of the rules will be deleted without notice.
3/11 Update - No Moderation
*Non-anonymous commenting is preferred to avoid mix-ups. Anonymous comments are, at the behest of management, more likely to be deleted than non-anonymous comments.