Executive Compensation

As flagged by The Star's Yael T. Abouhalkah, the House passed legislation on Friday to prohibit pay and bonus packages that encourage bankers and traders to take risks so big they could bring down the entire economy."  According to the Washington Post, the "ban on risky compensation would apply to any firm with more than $1 billion in assets, including bank holding companies, broker-dealers, credit unions, investment advisers and mortgage buyers Fannie Mae and Freddie Mac." 

Not surprisingly, House Republicans thought this was a bad idea.  Abouhalkah was not impressed.

There should be no limit on executive compensation at companies receiving TARP money.

Details here.