Obama administration plans big pay cuts at seven bailout firms
Companies that received most assistance will have to cut salaries of 25 highest-paid executives by about 90%
The Obama administration plans to order companies that received huge US government bailouts last year to sharply cut the compensation of their highest paid executives, according to a person familiar with the decision.
The seven companies that received the most [...]
$138bn bail out agreed for Bank of America
The struggling Bank of America today was guaranteed funds to help then through the financial crisis. The Government had to step in today to help the Bank of America as they have seen losses that has never been recorded before. US government have put plans in to place today to allow up to $20 billion [...]
