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Bush Backs Unlimited Compensation For Disgraced CEOs: Now Is Not The Time For ‘Punitive Measures’ September 22, 2008

Posted by trouble97018 in Economy, News, Politics, Repiglicans.
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Think Progress

By Amanda at 12:14 pm

Today, the White House released a statement criticizing Congress’s potential plan to limit CEO compensation at the companies the federal government is bailing out, firmly standing against any “punitive measures”:

We certainly understand and are sympathetic to the sentiment regarding the pay of CEOs and senior management of these firms, but we have to focus on the problem, and the problem is that we need these firms to participate in the program and sell us this debt. Having punitive measures would provide a disincentive for firms to participate, and that would make the program much less likely to succeed.

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