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How Geithner, Obama Battle Employment, Unemployment: Old Skool Agitation, Cold Water Cycle

Caps? What caps? | Bloomberg (Update 2)^n | 18 May 2009

Treasury Secretary Timothy Geithner ruled out setting specific limits for compensation as the Obama administration considers proposals to better align executives' pay with companies' long-term performance. "I don't think our government should set caps on compensation," he said in answering questions at an event at the National Press Club today in Washington. "What I think we need to do is make sure we put in place some broad constraints on the incentives compensation systems create."

Geithner's remarks indicate the administration's proposals may focus more on principles than on specific prescriptions for how financial companies compensate their executives.

Calls for `Very Substantial' Change in Wall Street Pay | Bloomberg | 22 May 2009

Treasury Secretary Timothy Geithner called for major changes in compensation practices at financial companies and said the Obama administration's plan to help realign pay with performance will be rolled out by mid-June. ...

The administration's pay plan would be part of a proposed comprehensive overhaul of financial regulation aimed at both protecting consumers and reducing vulnerability to crises. Geithner has previously ruled out setting specific caps on pay and declined to alter existing compensation contracts.


Diversity is the key to economic and political evolution.

by Cat on Fri May 22nd, 2009 at 02:28:45 PM EST
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