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Obama Imposes US$500,000 Cap on Executive Pay in Bailouts

 

US President Barack Obama (R) delivers remarks about executive compensation as Treasury Secretary Timothy Geithner looks on at the White House in Washington on February 4, 2009. [Xinhua]

US President Barack Obama (R) delivers remarks about executive compensation as Treasury Secretary Timothy Geithner looks on at the White House in Washington on February 4, 2009. [Xinhua]



US President Barack Obama delivers remarks about executive compensation at the White House in Washington on February 4, 2009. [Xinhua]

US President Barack Obama delivers remarks about executive compensation at the White House in Washington on February 4, 2009. [Xinhua]



The Obama administration on Wednesday imposed a pay cap of US$500,000 for top executives at companies that receive the government bailout money to weather the current financial crisis.

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