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Institute for Policy Studies
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    • Released February 3, 2009
    Executive Pay and the Bailout
    By Sarah Anderson and Sam Pizzigati

    In recent weeks, two legislative initiatives have aimed to crack down on profiteering from the financial bailout. Both were prompted by evidence that the pay restrictions in the original bailout bill have proven largely toothless. Some of the recipients — most notably AIG, Morgan Stanley, and Goldman Sachs — have doled out sizeable bonuses to high-ranking staff since receiving billions in taxpayer support. Wall Street firms as a whole handed out more than $18 billion in bonuses last year.

    This memo analyzes both initiatives – Sen. Claire McCaskill’s proposal to set a fixed ceiling for all employees of bailed-out firms and Rep. Barney Frank’s broader reform of the original bailout legislation.

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    • Released November 24, 2008
    Skewed Priorities
    By Sarah Anderson, John Cavanagh, Janet Redman

    The approximately $4.1 trillion that the United States and European governments have committed to rescue financial firms is 40 times the money they’re spending to fight climate and poverty crises in the developing world.

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    • Released September 29, 2008
    Reaction to Bailout Vote
    By Sarah Anderson, Chuck Collins, Dedrick Muhammad, Sam Pizzigati

    In response to the stunning House of Representatives vote against the proposed $700 billion bailout of Wall Street, IPS economic analysts propose ways to make Wall Street pay for the bailout, rather than average taxpayers.

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