Pages

Thursday, March 19, 2009

Senate Quietly Stripped Measure Restricting Bonuses From Bailout Legislation

A new revelation in the scandal surrounding AIG's decision to pay multi-million dollar bonuses to executives -- a provision that would have restricted companies receiving federal government bailout aid from paying bonuses was quietly stripped from a bill last month.The measure, introduced by Sen. Ron Wyden (D-OR), was removed by negotiators in a late-night, close door meeting. In the negotiations, senators agreed to limit executive compensation but decided to forgo barring excessive bonuses -- in fact, they specifically exempted it.

Read more...

No comments:

Post a Comment

Thanks for your comment it is much appreciated.