Saturday, February 14, 2009

In this morning's WSJ...

Chris Dodd sticks a last minute provision in the bill limiting exec pay at firms who are getting public money... The provision would effectively limit the CEOs pay at Bank of America, for example, to $2.25 million. Larry Summers called Dodd to try to get him to take it out...

Presumably, how it worked was this: CITI called larry summers, and told him they wouldn't give him any more freebies on their corporate Jet unless he called Dodd to make sure Exec pay isn't limited to a humuliating coupla' mill. The Cossacks work for the czar, after all...

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