As Expected, Fed Hits Banks With Sweeping Pay Limits

by Benjamin Domenech on 11:21 pm October 22, 2009

“Treasury official Kenneth Feinberg said cash salaries paid to the highest-earning executives at seven companies getting exceptional federal aid will be capped at $500,000, while the group’s total pay level, annualized, will be 50% lower than a year before.” The rules will only effect November and December. No Christmas for you.

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