The latest from Washington's intervention in the banking sector:http://online.wsj.com/article/SB123371587783546553.html
Among the new restrictions being considered is a $500,000 cap on salaries for executives at companies that receive a substantial amount of government aid, according to a person familiar with the matter. Executives would be able to get additional compensation in the form of restricted stock or other compensation that is tied to the long-term health of the company.
Of course the devil is in the details, especially what qualifies as a "substantial amount of government aid", who is considered an executive and whether bonus/incentive pay would also be subject to the $500k cap.
My question to those considering banking: would this (if passed) affect your decision on which banks you'd want to work for? It seems to me that by creating price controls on labor, the government could cause some unintended consequences in terms of where talented people choose to work, with repercussions for the banks subject to the limits.
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