«WASTING MONEY PUTS YOU IN A REAL PARTY MOOD»

WASHINGTON — Nearly three months after American International Group bonuses provoked an angry reaction in Congress, the Obama administration is ready to issue new regulations limiting the compensation of top executives at financial institutions that have received government rescue funds.The regulations, expected as early as Wednesday, would apply to the most highly compensated employees at financial firms that obtained infusions from the $700 billion Troubled Asset Relief Program.While 10 of the nation's largest banks got permission to pay back their share of the money, executives at several other high profile firms would still fall under the new restrictions, including Citigroup, Bank of America, the American International Group, Chrysler and General Motors.

-Huffington Post
June 10 2009