Lawmakers' Goal to Cap Executive Pay Meets Resistance

Lawmakers' Goal to Cap Executive Pay Meets Resistance

www.washingtonpost.com

Congressional efforts to impose stringent restrictions on executive compensation appeared to be evaporating yesterday as House and Senate negotiators worked to fine-tune the compromise stimulus bill.

(visit the link for the full news article)

The so called cap on bonuses didn't last very long then did it, i wonder how much the bank's had to pay their lobbyist's to grease the palms of the politicians to drop this part of the legislation? And doesn't the Democrats have power in both houses? if so it's seems to indicate that Obama may not have the power to push through the legislation he thought he did?

www.washingtonpost.com
(visit the link for the full news article)

[edit on 12-2-2009 by solidshot]

Well of course it "evaporated". Why should they lower their standard of living, heaven forbid. Bet they would have been the ones, when the Titanic was going down that would have dressed in drag just to get off the sinking ship...

~Holly

In France the president didn`t wanted to impose such a measure.. I suppose it could be debated wether managers of big companies should have the salary imposed by regulation even in times of crisis

Well, it was never meant to last anyway.

It was scant hours before the word hit the street that instead of 'bonuses' from now on the Execs will be getting 'retention incentives' so as not to break the 'bonus' rules.

These execs run the congress. It can't be any more evident.

The writing is on the wall.
They need to take all they can get and NOW!

Lest they may not be able to live the lives they have
grown to love and assume they have a right to.

No need for them to be part of the starving.
They have connections - man.