Stimulus Bill Limits Exec Pay For TARP Recipients

Law360, New York (February 13, 2009, 12:00 AM EST) -- The $789 billion economic stimulus plan Congress voted on Friday afternoon included a provision significantly restricting executive pay for financial firms receiving taxpayer money under the Troubled Assets Relief Program.

The amendment added to the bill by Sen. Chris Dodd, D-Conn., is stricter than the limits President Obama imposed last week, but is not as restrictive as the hard $400,000 cap on executive pay the Senate debated earlier in the week.

Dodd's amendment sets the size of executive bonuses for companies receiving TARP money to no...
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