Do these Democrats realize how bad it is to make regulations retroactive? Some companies, such as Bank of America, take over companies at the request of the Feds and find that they are now in bad shape because of that so they take the government funds. Now they face these stupid retroactive regulations.
The provision, inserted by Senate Democrats over the objections of the Obama administration, is aimed at companies that have received financial bailout funds. It would prohibit cash bonuses and almost all other incentive compensation for the five most senior officers and the 20 highest-paid executives at large companies that receive money under the Treasury’s Troubled Asset Relief Program, or TARP.
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