Big pay cuts coming at bailout firms

White House Slashes Pay For Wall Street Execs

Big pay cuts coming at bailout firms

The government reportedly plans to order companies that received huge bailouts to slash exec salaries.

By how much?

Also:

• Obama refocuses bailouts
• 2 sectors drive recovery
• List of bailout recipients

The Obama administration stunned Wall Street on Wednesday by ordering massive pay cuts for top executives at seven financial firms that still hold billions in U.S. government bailout funds.

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