The Obama administration will be releasing its plan to slash the compensation for the highest-paid employees at companies bailed out by the American taxpayer. The devil of course is in the details but it sounds good. I do wonder if the administration is providing corporate executives with a loophole since they did not foreclose approval f $25,000 + worth of perks.
Don't feel sorry about Kenneth D. Lewis at Bank of America. Though he is being forced into early retirement, Mr. Lewis still gets a $53 million pension.