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New restrictions on executive pay at U.S. banks receiving federal aid may cause talented managers to flee to hedge funds and foreign-owned banks, say critics of the measure.
The limits, championed by Senate Banking Committee Chairman Christopher Dodd, were tucked into a $787 billion fiscal stimulus bill approved yesterday by Congress. President Barack Obama plans to sign the measure early next week.
Originally posted by burntheships
What is disturbing is that this leaves the Goverment with their tentacles in more and more legislation that is intertwined with the private business sector. Soon, where will we draw the line of seperation between the Goverment, and Private Business?
Nope, they added it back in after changing quite a few things.
Originally posted by tiso_us
I thought that they took that out of the stimulus bill, I heard on cspan just resent that they took it out. confirmation anyone........