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February 2, 2009

McCaskill on Corporate Executives’ Pay: “These People Are Idiots”
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On Capitol Hill, Democratic Sen. Claire Mc Caskill of Missouri has
proposed new pay limits for Wall Street executives. Mc Caskill wants any
company taking federal bailout money to limit compensation for all
employees to $400,000 a year, the same salary as President Obama. Mc
Caskill made the proposal after it was revealed Wall Street firms had
given themselves $18 billion in bonuses last year.

Sen. Mc Caskill: “We have a bunch of idiots on Wall Street that are
kicking sand in the face of the American taxpayer… These financial
institutions, on the brink of extinction, come to the American taxpayer
for hundreds and billions of dollars. At the very same time, they think
they’re going to buy a $50 million corporate jet. They’re going to pay
out $18 billion in bonuses. They paid an average of $2.6 million to
every executive at the first 116 banks that got taxpayer money under
TARP.”



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