McCaskill's Pay Cap/Bonus restriction to enter effect.

[SirNitram]

Link

[quote]WASHINGTON — The Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan.

Executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends.

President Obama and Treasury Secretary Timothy F. Geithner plan to announce the executive compensation plan on Wednesday morning at the White House.

The new rules would be far tougher than any restrictions imposed during the Bush administration, and they could force executives to accept deep reductions in their current pay. They come amid rising public fury about huge pay packages for executives at financial companies being propped up by federal tax dollars.

Executives at companies that have already received money from the Treasury Department would not have to make any changes. But analysts and administration officials are bracing for a huge wave of new losses, largely because of the deepening recession, and many companies that have already received federal money may well be coming back.

Crucial details remained unclear on Tuesday night, including whether the restrictions would apply to all companies that receive money under the so-called Troubled Asset Relief Program, or TARP, or whether they would apply only to the “exceptionalâ€

[rhoenix]

My one and only objection to this is that it might give the mistaken impression that a CEO is equal somehow to the president. Honestly, I would've voted for half of the POTUS' salary, which would be $200,000.

[SirNitram]

My one and only objection to this is that it might give the mistaken impression that a CEO is equal somehow to the president. Honestly, I would've voted for half of the POTUS' salary, which would be $200,000.

While there are times I'd not mind that, but NYC does NOT need more vacancies. There's dozens of places much cheaper to live within the Five Buroughs, but excaberating the empty rooms in the city won't help.

[rhoenix]

While there are times I'd not mind that, but NYC does NOT need more vacancies. There's dozens of places much cheaper to live within the Five Buroughs, but excaberating the empty rooms in the city won't help.

That is a good point, I admit.

I would like to see the pay disparity of chief officers for a business (including CEO, CIO, etc.) versus an entry-level worker's examined in painful detail at some point.

[frigidmagi]

[quote]“That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus,â€