Tuesday, July 28, 2009


BANZAI7 NEWS--The House Financial Services committee voted to ban pay practices at financial firms that encourage "inappropriate risk," one of the government's boldest moves into the private sector.

The bill, approved in a 40-28 vote, authorizes federal regulators to restrict "inappropriate or imprudently risky" pay packages at financial companies, though Goldman Sachs and firms with over $10 billion bonus pools would be exempted.

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