The White House on Wednesday announced strict limits on executive pay for financial institutions receiving “exceptional assistance” from the US government, part of its drive to tighten up the rules for bailing out Wall Street.
An administration official said that pay would be limited to $500,000 for the senior executives in institutions such as Citibank and AIG that were receiving targeted relief from government funds. Executives could also receive restricted stock, but it could only pay out after government support had been repaid».
Financial Times
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