Holy Moly!!!! Obama to order salary pay cuts for AIG (And OTHERS!!!)!!!!!!!

[Beetwasher]

U.S. to Order Steep Pay Cuts at Firms That Got Most Aid

WASHINGTON — Responding to the growing furor over the paychecks of executives at companies that received billions of dollars in federal bailouts, the Obama administration will order the companies that received the most aid to deeply slash the compensation to their highest paid executives, an official involved in the decision said on Wednesday.

Under the plan, which will be announced in the next few days by the Treasury Department, the seven companies that received the most assistance will have to cut the cash payouts to their 25 best-paid executives by an average of about 90 percent from last year. For many of the executives, the cash they would have received will be replaced by stock that they will be restricted from selling immediately.

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http://www.nytimes.com/2009/10/22/business/22pay.html?hp

http://www.dailykos.com/storyonly/2009/10/21/795626/-Obama-to-order-salary-pay-cuts-for-AIG!!!!!!!-(Updated)

Cue the Obama basher/whiners.

"That's not change we can believe in...errr...*gulp*