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DODD APPLAUDS FEINBERG CAP ON EXECUTIVE PAY FOR TARP RECIPIENTS

December 11, 2009

WASHINGTON –  Today, Banking Committee Chairman Chris Dodd (D-CT), congratulated Ken Feinberg, Special Master for Executive Pay in the Obama Administration, on news that he has set $500,000 salary limits for employees at four companies that received “exceptional” U.S. bailout funds.
 
“This holiday season, millions of Americans are struggling with tight budgets,” said Dodd.  “I appreciate Mr. Feinberg’s continued efforts to rein in outrageous compensation so that folks running companies that continue to be propped up by hard-earned tax dollars are forced to tighten their belts as well."
 
Dodd’s executive compensation amendment to the Recovery Act provided Treasury the authority to force these caps.
 
To view the legislation click here  (Division B, Title VII).
  
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December 2009 Majority Press Releases

December 23rd DODD AND SHELBY ISSUE JOINT STATEMENT ON THE PROGRESS OF FINANCIAL REFORM
December 17th SENATE BANKING COMMITTEE APPROVES BERNANKE
December 14th DODD STATEMENT ON CITIBANK REPAYING TARP FUNDS
  Current record
December 8th DODD, MENENDEZ APPLAUD ADMINISTRATION’S TRANSIT SAFETY PLAN, WILL PUSH FOR TRANSIT INVESTMENTS IN NEW JOBS BILL
December 3rd DODD SUPPORTS BERNANKE’S CONFIRMATION