Obama sets executive pay limits for bailout companies - Reuters

WASHINGTON, Feb 4 (Reuters) - President Barack Obama tookon bailed-out Wall Street firms on Wednesday, setting a$500,000 annual cap on executive pay for companies gettingtaxpayer funds and tapping popular anger over financial sectorexcesses.

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Obama said more such measures were planned in efforts tooverhaul the crisis-hit U.S. financial sector that has beenbailed out with billions of dollars of public funds. He won support in Washington, including from someRepublicans who were critical of the financial sector bailoutin the first place. But Wall Street critics said the pay capwas a political gambit that could prompt a talent flight fromaffected firms.

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