President Barack Obama has imposed pay limits on executives of banks and other companies that receive government bailout money to avoid collapse.
O_KL#xo {9_CH<$W%U It is a topic that has sparked fury across the nation: financial executives receiving multi-million dollar salaries and lavish bonuses while taxpayers keep their ailing companies afloat.
WElB,a-RCp w9c President Obama says the practice is shameful and irresponsible.
%J2u+K m:X;dcq'3 "For top executives to award themselves these kinds of compensation packages in the midst of this economic crisis is not only in bad taste, it is a bad strategy, and I will not tolerate it as President," he said.
LxsB.jb- OC"W=[Myl The president announced a $500,000 yearly limit on compensation for executives of companies receiving emergency federal assistance. Additionally, he said companies will be required to disclose all benefits provided to their top managers, and that severance packages will be limited.
!63x^# kg y*|"!FK Not an assault on wealthy Americans
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