Good thing Obama had his Wall Street fundraiser last night
ByI don’t know how much President Obama raked in for Bill Owens and the DNC, but he probably wouldn’t have done as well today.
The Wall Street Journal reports:
The U.S. pay czar will slash compensation for the 25 highest-paid employees at seven firms receiving large sums of government aid and demand a host of corporate-governance changes at those firms, according to people familiar with the matter.Kenneth Feinberg, the Treasury Department’s special master for compensation, will lower total compensation for 175 employees by an average of 50%, these people said. As expected, the biggest cut will be to salaries, which will drop 90% on average.
Nothing in the report about Government Motors, Chrysler or the auto union big wigs.
Correction: Apparently executives at GM and Chrysler will be included - still nothing about the union bosses.
Popularity: 1% [?]
Hell no………
I’ll bet a lot of stop payments got put on those checks and many pledges will not be honored.
I refuse to believe Wall Street will simply bend over and take it.
The Wall Streeters are already looking for the loopholes. They will probably threaten to tank the market and take America down with them, unless they are given free reign to continue their fraud and theft.