Tags: mccain | bank | execs

McCain: Limit Bank Execs to $400,000

Monday, 22 Sep 2008 11:24 AM

By Jim Meyers

John McCain has declared that executives at banks that are bailed out by the federal government should not be paid more than $400,000 a year.

“No CEO of any corporation or business that is bailed out by us, that is rescued by American tax dollars, should receive any more than the highest paid person in the federal government,” McCain told CNBC on Sunday.

The highest paid person in the federal government is the president, who makes $400,000 a year.

Such a provision would result in a substantial pay cut for bank CEOs and could “dramatically reduce” participation in the bailout program, Politico reported.

McCain also said an oversight board of “respected” people should be appointed to supervise the mortgage bailout, and suggested former Massachusetts Gov. Mitt Romney, New York City Mayor Michael Bloomberg, and investor Warren Buffett.

“As much as I admire [Treasury] Secretary [Henry] Paulson,” McCain said, “we’ve got to have more people that are respected by Americans.”

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Charlie Hebdo Survivor: Glad Obama Didn't Come to Paris

Sunday, 25 Jan 2015 22:56 PM

Laurent Leger, a Charlie Hebdo staff member who survived the attack that killed several of his co-workers earlier this m . . .

Will Ron Paul's Views Hurt Rand Paul's Presidential Ambitions?

Sunday, 25 Jan 2015 22:25 PM

Former Texas Rep. Ron Paul, who has run for president three times as a Libertarian and as a Republican, was never more t . . .

WH Chief of Staff Accidentally Reveals American ISIS Hostage's First Name

Sunday, 25 Jan 2015 21:07 PM

White House Chief of Staff Denis McDonough accidentally revealed the first name of an American woman being held by the I . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved