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Tuesday, Mar 03rd

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You are here News Economy Bush Pushed Bailout Loophole On Executive Pay

Bush Pushed Bailout Loophole On Executive Pay

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Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that break the rules.

But at the last minute, the Bush administration insisted on a one-sentence change to the provision.

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