Stimlus Plan Sets New Limits on Executive Pay

It looks like Chris Dodd has made an end run around Obama's plan for compensation limits by pushing a limit on executive compensation in the stimulus package. This one applies to prior recipients of TARP money as well, which will be very unpopular with the banks. While I am somewhat skeptical of the claims that this limit will influence executives' behavior (there aren't many hedge funds or foreign banks left to run to), it will be interesting to watch the reaction on Wall Street.