All banks, not just those who got bailout

Surprise, surprise. From Taegan Goddard:

Government Moves to Regulate Bank Compensation

The Treasury and the Federal Reserve unveiled a set of rules for executive compensation at American banks that mark "a watershed moment for government intervention in the private sector," the Wall Street Journal reports.

The Fed is proposing that it "more aggressively regulate compensation practices at banks under its control."

Fed Chairman Ben Bernanke said the central bank "is working to ensure that compensation packages appropriately tie rewards to longer-term performance and do not create undue risk for the firm or the financial system."

These rules would apply to all banks and not just those who received bailout funds.

Going after Joe the Plumber next--cuz he was right.