Bawney Fwank said that this cap could encompass ALL businesses.
Barney Frank: TARP’s comp curbs could be extended to all businesses
Would be part of broader bill limiting hedge funds, credit-raters, and mortgage securitizers; ‘deeply rooted anger’
By Neil Roland
February 3, 2009 3:01 PM ET
Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said.
“There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today.
He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies....
http://www.financialweek.com/apps/pbcs.dll/article?AID=/20090203/REG/902039977/1003/TOC
Then we should take this opportunity to thank all of the welfare bum bank execs who ran screaming to Congress to beg to get on the dole. They foisted us into this.