Partner Steven Eckhaus Quoted in Wall Street Journal on the Impact of the Emergency Economic Stabilization Act on Executive Pay

Steven Eckhaus, a partner in the Financial Services Practice, was quoted in an article in the Wall Street Journal on the effects of the government bailout on executive pay at financial institutions. The Treasury Department amended some of the restrictions in its financial rescue plan to include limitations on tax deductions and “golden parachute” payments for certain executives: CEOs, CFOs, and the three highest paid officers at participating institutions. While some have predicted that the restrictions will apply to other managers, Mr. Eckhaus said firms are unlikely to curb the pay of employees not specified in the rules. (“Lower Salaries Could Cost Wall Street,” October 15, 2008)