The Recession

Obama Supports Lower Pay for Execs of Bailed-Out Companies

| by DeepDiveAdmin

President Obama says excessive executive pay "does offend our values," especially when they work for firms that U.S. taxpayers bailed out of trouble. Obama spoke as Kenneth Feinberg, the Treasury Department's special master for compensation, moved to cut top executive salaries and bonuses as much as 90% at companies that received taxpayer assistance under the Trouble Asset Relief Program (TARP):