By Jake Tapper,ABC News
Some of the worst offenders were Obama supporters like Franklin Raines of Fannie Mae
At the Senate today,Sen. Claire McCaskill,D-Mo.,introduced legislation to cap the salaries of executives from companies that received federal bailout funds. The limit applies to salary,bonuses and stock options,and is set at the amount of money earned by the president of the United States:$400,000.
“Going forward,if you want taxpayers to help you survive,if you want the people at your financial institution to have a job tomorrow,then you’re going to have to limit everyone’s pay at your company to the same salary that the president of the United States makes,” said McCaskill,a co-chair of President Obama’s campaign. “Now once they’re off the public dole,once the taxpayers aren’t footing the bill,then it’s not as much our business what they get paid. But right now they’re on the hook to us. And they owe us something other than a fancy waste basket and $50 million jet.”