February 5, 2009
Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today praised Senate approval of his amendment to apply further executive compensation restrictions to all TARP recipients, and to empower the Treasury Secretary to tighten existing provisions of the law to “claw back” any bonus or compensation paid to an executive based on false earnings reports or anything else later found to be materially inaccurate or misrepresentative of that company’s financial status.
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