Finally!

From here: The stimulus package Congress passed last night imposes new limits on executive compensation that could significantly curb multimillion dollar pay packages on Wall Street and goes much further than restrictions proposed by the Obama administration last week.The bill, which President Obama is expected to sign into law next week, limits bonuses for executives at all financial institutions receiving government funds to no more than a third of their annual compensation. The bonuses must be paid in company stock that can be redeemed only when the government investment has been repaid. With the measure, lawmakers seek to address public outrage over extravagant Wall Street paydays even as taxpayers bail out the industry. Unlike the rules issued by the White House, the limits in the stimulus bill would apply to top executives and the highest-paid employees at all 359 banks that have already received government aid.

Tip of the iceberg slowly thaws...

Finally, signs that something might be happening in the secretive, tony world of executive compensation...

American International Group Inc. agreed Wednesday to freeze some $19 million in payments to its former chief executive, Martin Sullivan, while New York Attorney General Andrew Cuomo reviews executive compensation and other expenditures aid out as the company neared collapse earlier this year.

About time... Of course, one can't be too sure if Cuomo is trying another Spitzer...

Compensation alert - yet again

Peter Kraus, the head of strategy at Merrill Lynch is leaving the company and in the process will net $25 million in compensation. This resulted due to the takeover of Merrill by Bank of America.

Here is the stunner:
Peter Kraus joined Merrill in September. A month back!

And the McCain camp has issues with redistributing wealth.