A first step

Obama administration to issue executive pay limits
By JIM KUHNHENN, Associated Press
3 Feb 2009
WASHINGTON – The Obama administration plans to limit pay to $500,000 a year for executives of government-assisted financial institutions in a new get-tough approach to bankers and Wall Street, a senior administration official said Tuesday.

Yes, W & Paulson are gone.

Will Obama's team write the contracts without loopholes?
I am hopeful.

While this is certainly an improvement over Paulson's "here's your money, have fun!" approach, I still hope that more comprehensive corporate governance issues are someday addressed.
The boards that approved recent bonuses, the execs that took 'em - these folks seem not too concerned that they've run their institutions into the ground.

[I note that recent news suggests that Wells Fargo has been shamed into cancelling week-long Las Vegas recognition event.]

When banks would fail without taxpayer $$$ and their leadership is kept on, I can't help but wonder: how effective will our $$$ be?