1.) The executive pay restriction didn't apply to companies who had already received bailout money at the time the new rule was announced, so companies had the option of opting into the bailout program and playing by the restriction, or choosing to not take government funds.
2.) Companies could still pay their execs more, but it had to be in stocks that couldn't be sold until all government payout had been paid back.
Originally posted by http://thepoliticalcarnival.blogspot.com/2009/09/doh-anti-acorn-bill-ropes-in-defense.htmlThe congressional legislation intended to defund ACORN, passed with broad bipartisan support, is written so broadly that it applies to "any organization" that has been charged with breaking federal or state election laws, lobbying disclosure laws, campaign finance laws or filing fraudulent paperwork with any federal or state agency. It also applies to any of the employees, contractors or other folks affiliated with a group charged with any of those things.
In other words, the bill could plausibly defund the entire military-industrial complex. Whoops.
Rep. Alan Grayson (D-Fla.) picked up on the legislative overreach and asked the Project on Government Oversight (POGO) to sift through its database to find which contractors might be caught in the ACORN net.
Lockheed Martin and Northrop Gumman both popped up quickly, with 20 fraud cases between them, and the longer list is a Who's Who of weapons manufacturers and defense contractors.
Maybe they should have insisted on this bill being posted for at least three days before rushing it through?
After all the fun people had after the Patriot Act was rushed through Congress 7 years ago, is it a really good LONG TERM (I know that goes against most things that occur on the market and in Washington lately)