The Old Gray Lady reports that the stimulus bill that just squeaked through Congress puts a squeeze on executive pay for bailed out banks. This apparently was done in the Senate over the “objection” of the Obama administration.
My main objection to all this is that there aren’t a bunch of bank executives being prosecuted and their huge bank accounts being dunned for the wreckage they caused.
While thousands of homeowners and small-business owners are losing everything in large part because of the credit squeeze on top of (or the cause of) the tanking economy, a few fat cats have slinked off the scene with bazillions of dollars in bonuses and severance packages that could support several national economies for years.
See the Times HERE.