An angry U.S. senator introduced legislation Friday to cap compensation for employees of any company that accepts federal bailout money.
Under the terms of a bill introduced by Sen. Claire McCaskill, D-Missouri, no employee would be allowed to make more than the president of the United States.
The Obama administration plans to mandate new executive pay limits on Wednesday for government-assisted financial institutions in a new get-tough approach to bankers and Wall Street. “If the taxpayers are helping you, then you’ve got certain responsibilities to not be living high on the hog,” President Barack Obama said in an interview Tuesday with “NBC Nightly News”.
Wonder what the Missouri Republican delegation (or just Reps Blunt and Graves) in DC will think about that idea.