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Pelosi, Reid Call on Paulson to Strengthen Golden Parachute Restrictions on Financial Institutions Receiving Taxpayer Funds
October 29, 2008Speaker Nancy Pelosi and Senate Majority Leader Harry Reid today expressed concerns to Treasury Secretary Henry Paulson about the level of compensation that top executives will continue to receive at financial institutions benefiting from taxpayer assistance under the Emergency Economic Stabilization Act. Speaker Pelosi and Senator Reid called on the Secretary to consider implementing stronger restrictions on the use of "golden parachutes" by financial institutions that receive taxpayer-funded capital infusions. Full release