April 04, 2009 04:11 PM UTC

Polis, Perlmutter & Markey Vote to Gut the Executive Pay Limitation Act

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• by: (((JADodd)))

Polis, Perlmutter and Markey all voted in favor of the Bean amendment to the Pay Performance Act which would have limited executive compensation at firms receiving TARP money.  The amendment all but gutted the bill by exempting banks an financial institutions which which are paying back the TARP money – whether a dollar a year or all in one payment.  So, you see, the amendment sets up a system so the banks can game us while these three come back an proudly announce that they voted to limit executive compensation.  

You can read more from Jane Hamsher at Huffington Post:  https://www.huffingtonpost.com/…