Executive Compensation

The Obama administration is set to announce that seven companies that took the biggest taxpayer bailouts must slash the annual salaries of their 25 top executives by an average of 90 percent from 2008 levels.

Overall, the total compensation for the 25 executives, including yearly bonuses and retirement pay, will be cut by an average of around 50 percent. Moreover, executives who want more than $25,000 in fancy perks like private planes, limousines, company cars or country club memberships -- will have to get government permission first.

The seven companies are Bank of America Corp., American International Group Inc., Citigroup Inc., General Motors, GMAC, Chrysler and Chrysler Financial.

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News & Politics

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• 102209sanders

[Gioxtream]

Can we empty bernake banks accounts???

[TheTruePooka]

Senator Sanders, if you run for President you'll have my offer of the Power of the Pooka to work on your campaign.

Of course, that's assuming you actually want it. :->

[batasoohawki]

These greedy Wall Street-worshiping bank & insurance executives erased (robbed) the life savings & incomes of millions of hard-working families. So the greedy bank & insurance execs became even more wealthy (hard not to when they had billions in stolen cash to play Blackjack with), and the innocent families had nothing-no savings, no IRA, no job. As a reward these greedy, thieving execs expect to receive undeserved, ill-gotten multi-million dollar bonuses. Disgusting, greedy & wicked people.

[drharris2020]

We need to reduce the obscene compensation packages of U.S. senators.

[turtle2hug]

Hell yeah!!

[rungy07]

I think we should seize their companies, divide them up and auctrion one portion to each state. And with the money from auction heal some of our sick !!!

[CousinoMacul]

They should all be fired (IMHO).