Obama: Banking Plan Must Rein in Executive Pay - The Caucus B...

He said the limits on the so-called golden parachutes for chief executives, which he pushed to be a part of the first government bailout plan, remain a key point.

“I am concerned that the way that they structure this new mechanism that we are cracking down on excessive CEO pay –- that I think should be part of the deal,” Mr. Obama said. “And I’m also concerned that taxpayer shares -– that they are purchasing or they are receiving as a consequence of this injection of equity –- is a good deal for tax payers. I think that if tax payers investing in Goldman Sachs, they shouldn’t get a worse deal than when Warren Buffet invests in Goldman Sachs.”

Highlighted by cburell