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Re: Some Wall Street firms are looking for ways to sidestep tough new federal caps on compensation. [WSJ]
From: David Farber <dave () farber net>
Date: Tue, 17 Mar 2009 08:48:13 -0400



Begin forwarded message:

From: "Ronald J Riley \(RJR Com\)" <rjr () rjriley com>
Date: March 17, 2009 8:30:39 AM EDT
To: <dave () farber net>
Subject: Some Wall Street firms are looking for ways to sidestep tough new federal caps on compensation. [WSJ]

The arrogance of banking and insurance companies has no bounds. There is a serious moral rot which has spread throughout these businesses.


Ronald J. Riley,
Direct (202) 318-1595 - 9 am to 9 pm EST.

from The Wall Street Journal


March 17, 2009

Some Wall Street firms are looking for ways to sidestep tough new federal caps on compensation.

In response to expected bonus restrictions, officials at Citigroup, Morgan Stanley and other financial institutions that got government aid are discussing increasing base salaries for some executives and other top-producing employees, people familiar with the situation said.

The crackdown, part of the economic-stimulus package passed by Congress and signed into law by President Obama last month, limits bonus pay for the top five executives of any recipient of taxpayer capital through the Troubled Asset Relief Program, plus the 20 next- highest-compensated employees.

http://online.wsj.com/article/SB123724826580949187.html?mod=djemalertNEWS





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