Frank wants more bank pay restrictions, and no private jets

gret

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Here are some of the restrictions the Massachusetts Democrat would impose on banks that want to tap the next $350 billion in government funds to bolster their capital:
--- No payments or accruing of any bonus or incentive compensation to the 25 most highly compensated employees. So Frank now wants to restrict pay far down banks’ chain of command.
--- No compensation plans that would encourage manipulation of earnings to enhance compensation. Not sure how exactly they would even gauge this.
--- Private aircraft or leases would have to be divested. Bankers flying coach??

http://latimesblogs.latimes.com/money_co/2009/01/barney-banks-ge.html
 

ttflyer

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I heard on FBN (I don't have a source) that this would apply retroactively. In other words, any bank that took TARP funding last year would have to eliminate their corporate flight departments...

Here we go folks... We get the government we deserve, not the one we want...
 

LJ45

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let's get rid of those corporate pilots and other support folks, put them on welfare. Nevermind selling US made aircraft. :puke:

Great way to help the economy !!!
 

Headwind

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Should Gulfstream, Beech,, Cessma, etc. depend on foreign sales to keep their business operating?
What will Frank say when they need a bailout?
 

BoilerUP

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Should Gulfstream, Beech,, Cessma, etc. depend on foreign sales to keep their business operating?
What will Frank say when they need a bailout?
You really think the "Masshole in Chief" Barney Frank cares about a bunch of skilled laborers in central Kansas? THAT'S FLYOVER COUNTRY!
 
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