Law360, New York (March 3, 2009, 12:00 AM EST) -- Restrictions on executive compensation won't apply to the government's Term Asset-Backed Securities Loan Facility because of a desire to encourage market participants to avail themselves of the facility, which the Federal Reserve and Treasury Department say has the potential to generate up to $1 trillion in lending.
Executive compensation restrictions are geared toward making sure that executives at institutions that get government support aren't unjustly enriched at the expense of taxpayers, according to the Fed.
“Given the goals of the TALF and the desire to encourage...
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