H. D. Vinod Professor of Economics and Director of Fordham Institute of Ethics and Economic Policy Fordham University, Bronx, ny 10458

) Eligibility of a Financial Institution with Limits on Top Salaries

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1) Eligibility of a Financial Institution with Limits on Top Salaries.

Section 1(a) makes `any financial institution having its headquarters in the United States' eligible to sell assets to the taxpayers. This section should be amended to insert the provision that: The salary and compensation of any member of the management team of the eligible financial institution cannot exceed the salary (excluding compensation) of the President of United States. This restriction is reasonable and should remain in force until all assets taken over during the bailout are sold. This will create the right incentive to quickly remove the non-performing assets from the books of US treasury.

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