TALF Participant Executives May Be Subject to Compensation Limits

Obama's Treasury Department seems to have changed its mind on the Term Loan Asset-Backed Facility to help rid financial institutions of asset-backed loans. Executives of firms who participate might have compensation limits after all. From WaPo:

Treasury Department lawyers have determined that firms participating in a $1 trillion program to relieve banks of toxic assets could be subject to limits on executive compensation, contradicting the Obama administration's previous public position, according to a report to be released today by a federal watchdog agency.

Ha - I don't think the weak demand for this "solution" is going to improve any time soon...and some people thought Paulson was incompetent...