Sen. Chris Dodd (left) wants to limit executive pay. The bank lobbyists, not so much.
Lauren Victoria Burke/AP
Just press play.
Scott Talbott, chief lobbyist for the Financial Services Roundtable, will spend this week trying to get the best possible deal for his clients -- the bankers and investors whose miserable balance sheets almost brought down the global economy last week.
Now those bankers stand to get a bailout from the federal government. Congress and the U.S. Treasury are working out a bill that would allow the Treasury secretary to buy up $700 billion in bad debts.
Talbott says the banking industry does bear some responsibility for things going so wrong, though not sole responsibility. Among his concerns this week: erasing a proposed provision to limit executive pay.
Update: Congress says White House agrees to limit executive pay.
---------
Download the podcast; or subscribe. Follow our Twitter feed.
categories: Planet Money Podcast, Understanding The Crisis
Comments
Please note that all comments must adhere to the NPR.org discussion rules and terms of use. See also the Community FAQ.
You must be logged in to leave a comment. Login | Register
More information needed to participate in the NPR online community.. Add this information