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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (291240)	2/6/2009 11:53:05 AM
From: DMaA	Read Replies (2) \| Respond to of 793861

The salary cap is a hoax too: Goldman, JPMorgan Won’t Feel Effects of Executive-Salary Caps By Matthew Benjamin and Christine Harper More Photos/Details Feb. 5 (Bloomberg) -- Executives at Goldman Sachs Group Inc., JPMorgan Chase & Co. and hundreds of financial institutions receiving federal aid aren’t likely to be affected by pay restrictions announced yesterday by President Barack Obama. The rules, created in response to growing public anger about the record bonuses the financial industry doled out last year, will apply only to top executives at companies that need “exceptional” assistance in the future. The limits aren’t retroactive, meaning firms that have already taken government money won’t be subject to the restrictions unless they have to come back for more. bloomberg.com