Candidates study bailout; Senate vote awaits McCain and Obama; concept is embraced

In Scranton, Pa., Monday, Sen. [John McCain] went after excessive executive pay and, like many Democrats, including Sen. [Barack Obama], said that executives at companies receiving assistance shouldn't be eligible for bonuses. "We can't have taxpayers footing the bill for bloated gold...

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Bibliographic Details
Published inWall Street journal. Europe
Main Author Laura Meckler, Elizabeth Holmes and Nick Timiraos
Format Newspaper Article
LanguageEnglish
Published Brussels Dow Jones & Company Inc 24.09.2008
EditionEurope
Subjects
Accountability
Bailouts
Executive compensation
Judicial reviews
Nominations
Obama, Barack
Political leadership
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Summary:In Scranton, Pa., Monday, Sen. [John McCain] went after excessive executive pay and, like many Democrats, including Sen. [Barack Obama], said that executives at companies receiving assistance shouldn't be eligible for bonuses. "We can't have taxpayers footing the bill for bloated golden parachutes like we see in the Lehman Brothers" bankruptcy filing, Sen. McCain said at a town-hall meeting to applause. From Green Bay, Wis., Sen. Obama said he wouldn't support giving a "blank check to Washington with no oversight and accountability when no oversight and accountability is what got us into this mess in the first place." But he urged the legislative process to proceed. "We have to work quickly and in a bipartisan fashion," he said.
ISSN:0921-9986