FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
FULL SHOWSMissed an episode of Fast Money? Watch the lastest show here.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTSDownload Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY PHOTOS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up and receive a recap email every Friday after the show!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Text Size 
 |
Capping executive pay is getting all the attention, but did you know it’s just a first step?
As we’ve been telling you President Obama has imposed $500,000 caps on senior executive pay for the most distressed financial institutions. The pay cap would apply to institutions that negotiate agreements with the Treasury Department for "exceptional assistance" in the future. (We take that to mean banks that need additional TARP money.)
But that’s just a first step. The president is also considering a wide range of other new requirements on "exceptional assistance." They include:
| ||
_The expansion to 20, from five, the number of executives who would face reduced bonuses and incentives if they are found to have knowingly provided inaccurate information related to company financial statements or performance measurements.
_An increase in the ban on golden parachutes from a firm's top five senior executives to its top 10. The next 25 would be prohibited from golden parachutes that exceed one year's compensation.
_A requirement that boards of directors adopt policies on spending such as corporate jets, renovations and entertainment.
The administration also will propose long-term compensation restrictions even for companies that don't receive government assistance, Obama said.
Those proposals include:
_ Requiring top executives at financial institutions to hold stock for several years before they can cash out.
_ Requiring nonbinding "say on pay" resolutions — that is, giving shareholders more say on executive compensation.
_ A Treasury-sponsored conference on a long-term overhaul of executive compensation.
Read More:
> Obama Caps Executive Pay Tied to Bailout Money
- Your First Move For Friday November 27th
- Web Extra: Private Equity, Conviction Buy?
- Pops & Drops: Abercrombie & Fitch, Nucor...
- Giving Thanks: Seymour
- Your Questions About... Alcoa & The Dollar
- Best Wishes Regis
- Gartman's Annual Rules For Trading
- Chartology: December Outlook
- Holiday Toy Trades
- Steepest Black Friday Discounts, Revealed
______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to .
AP with CNBC.com
Data is a real-time snapshot *Data is delayed at least 15 minutes