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June 10, 2009

Admin Drops Salary Caps for Bailed-out Firms
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The Obama administration is expected to announce today an additional
round of regulatory changes for overseeing the financial industry. The
Wall Street Journal is reporting the White House has dropped several
pledges including a plan to cap salaries at firms receiving government
bailout money. The initial plan would have allowed a maximum salary of
$500,000. Executive payments would now only be limited through
congressionally approved caps on bonuses.



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