Okay...so...I saw right, left and middle ground folks all outraged over executive pay bonuses when Shrub handed over tax payer dollars to Wall Street.

Now this news.

So...Bush handed over public funds to private instatutions with no limits or guarantees. Now that Obama is calling for accountability regarding the use of tax payer funds I bet he will be called...?

Obama implements McCaskill's executive pay rules!
by Drdemocrat
Tue Feb 03, 2009 at 06:53:00 PM PST

Tomorrow Obama and Geithner will implement new rules for executives whose company/bank takes taxpayers' money.

$500,000 per executive pay and bonuses no more than their pay base.

http://www.nytimes.com/...
Drdemocrat's diary

This is good news. We ALL are tightening our belts and it's time that Wall Street does the same thing. As Obama said during the inauguration the era of responsibility is upon us (including for the President).

Tomorrow Geithner and Obama will be releasing new rules on executive pay and bonuses. Although Obama didn't go as far as Senator McCaskill did where she said absolutely NO bonuses. Obama did put limits on what executives could get.

The Obama administration is expected to impose a cap of $500,000 on the compensation of top executives at companies that receive large amounts of federal bailout money, according to people familiar with the plan.

Under new rules to be announced by the Treasury Department as early as Wednesday, executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends.

The new rules would be far tougher than any restrictions imposed during the Bush administration, and they could force executives in the months ahead to accept deep reductions in their current pay.