- Obama limits bailed out bank executive salaries to 500k.
WASHINGTON “" In announcing executive pay limits on Wednesday, President Obama is trying to hold the financial industry accountable to taxpayers while aiming to change an entrenched corporate culture that endorses outsize bonuses and perks that often bear little relationship to corporate performance.
Mr. Obama also needs to deflect a growing populist outrage over sky-high pay among the banks and other companies now on the public dole. His announcement comes just days before the administration is expected to unveil a new strategy “" and possibly request more money from Congress “" to guarantee or buy outright hundreds of billions of dollars in bad assets held by banks.
WASHINGTON (Reuters) – U.S. President Barack Obama signed a law on Wednesday expanding a health insurance program for children and raising tobacco taxes to pay for it, a big legislative victory a day after his pick to lead a healthcare industry overhaul stepped aside.
Obama signed the law just hours after the House of Representatives voted 290-135 for the $32.8 billion expansion of the State Children’s Health Insurance Program, or SCHIP, which was approved by the Senate last week.