Barney Ties Compensation Limits To Bailout

By Glenn Thrush

(The Politico)  Rep. Barney Frank (D-MA), chairman of the Financial Services Committee, agrees with Chris Dodd that mortgage relief must be offered to distressed homeowners whose debts are transferred to Treasury under the bailout plan.

He adds an additional demand: limits on executive compensation for companies dumping debt.

"You've got to address their compensation policies," Frank just told CSPAN, who suggested acceptance of federal help might be contingent on agreeing to salary, bonus and golden parachute limits.