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.
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(Division B, Title VII).
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