On Fri, 20 Feb 2009, Doug Henwood wrote:
> That works both ways: Dodd said a few hours ago that Geithner has
> considerable leeway in enforcing the pay caps.
FWIW, he also said in the same interview that he too now foresees that nationalization of some banks may be necessary -- sending bank shares down another 20%.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aEvPzrV6pF88&refer=home
Dodd Says Short-Term Bank Takeovers May Be Necessary (Update2)
By Alison Vekshin
Feb. 20 (Bloomberg) -- Senate Banking Committee Chairman Christopher
Dodd said banks may have to be nationalized for "a short time" to help
lenders including Citigroup Inc. and Bank of America Corp. survive the
worst economic slump in 75 years.
"I don't welcome that at all, but I could see how it's possible it may
happen," Dodd said on Bloomberg Television's "Political Capital with Al
Hunt" to be broadcast later today. "I'm concerned that we may end up
having to do that, at least for a short time."
<end excerpt>
Michael