Barney Frank wants ALL US companies to accept pay cap
With only three weeks under his belt as President, Obama is swiftly making the moves that will move the United States closer to a socialist state. If Representative Barney Frank has his way, as Chairman of the Financial Services Committee, it will occur even quicker.
In an interview with the Financial Week, Frank stated, “Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said. ‘There’s deeply rooted anger on the part of the average American,’ the Massachusetts Democrat said at a Washington news conference today. He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies.”
Treasury Secretary Geithner said he would consider “extending at least some of the TARP provisions and features of the $500,000 cap to U.S. companies generally.”
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