Geithner opposes salary caps for corporate officials

May 19th, 2009 - USA Today

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WASHINGTON — Treasury Secretary Tim Geithner said Monday the government shouldn't rein in executive pay but should change corporate incentives so officials aren't rewarded for taking the kinds of risks that helped sink the economy.

"I don't think our government should set caps on compensation," Geithner said at a luncheon sponsored by Newsweek. "You had a crisis magnified by the fact that people were paid to take a huge amount of short-term risk. And that's something that's preventable."

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