Have You Heard the One About the Executive Compensation in the Stimulus Bill?

Well, it appears that the final version of the stimulus bill has restrictions on executive compensation, no "compensation incentives that encourage senior managers 'to take unnecessary and excessive risks that threaten the value of a company, no golden parachutes for senior management, "claw back" provisions to get money back from executives when they enrich themselves at taxpayer expense, and require (nonbinding) "say on pay" votes of the shareholders.

Sounds good, but it turns out that Congress gave the Treasury a year to draw up the regulations, and I'm sure that former Federal Reserve Bank of New York President, and general Wall Street butt boy, Timothy Geithner (as well as Larry Summers) will make absolutely sure to take the full 365 days, all the while lobbying for a relaxation of the law.

Oh to live in the UK, where the Conservative Party is calling for a bonus limit of £2,000 (about $2800) for all bank employees.

Yep, the Tories....The party of Margaret Thatcher....Is calling for bonus limits.