Oct. 21 (Bloomberg) -- Executives at seven bailed-out companies including Citigroup Inc. and Bank of America Corp. will have their pay cut about 50 percent after negotiations with Kenneth R. Feinberg, the Treasury Department’s special master on compensation, two people familiar with the matter said.
Cash salaries for the 25 highest-paid employees will be slashed 90 percent
http://www.bloomberg.com/apps/news?pid=20601087&sid=a3H8.VP_CHsQ
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This announcement late today must be why Wall Street dropped 92.12 points in the last hour.
There is something amazing peevish in these big money bags who pout and go slack at the mere mention feeding rights at federal hog trough might be cut back.
CG