Congress aims to limit salaries, bonuses
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Congress is putting its foot down. Yesterday President Obama spoke out against Wall Street executives and their “shameful” behavior. It seems those executives $18 billion in bonuses in 2008. Yes, as the stock market crashed and homeowners lost their houses, Wall Street execs were still raking in extra cash on top of their already generous salaries.
Sen. Claire McCaskill agrees that this action is shameful. And she is trying to put a stop to it. McCaskill, a Democrat from Missouri, introduced legislation today that will limit salaries and bonuses for all employees who work for firms that receive federal bailout money.
Check out your faxless payday loan store’s article on how Obama plans to handle bailout money.
Harsh words for Wall Street
McCaskill’s bill states that no one who gets bailout money can make more than the U.S. president, who makes $400,000 per year. So if the bill passes, total compensation for executives, including bonuses and stock options, cannot exceed that amount.
McCaskill is very passionate about her quest.
“We have a bunch of idiots on Wall Street that are kicking sand in the face of the American taxpayer. They don’t get it. These people are idiots. You can’t use taxpayer money to pay out $18 billion in bonuses,” McCaskill said. ... click here to read the rest of the article titled "Wall Street Pay Cap | Faxless Payday Loans and Money Matters"