Senate Democrats - thank you Senator Dodd - put provisions in the stimulus bill that place "severe limits" on executive compensation for companies that receive BARF, sorry TARP, funds.

The provisions are harsher than those announced by the Administration. These restrictions are retroactive, they apply to more executives and they restrict bonuses to one third of salary. Bonuses cannot be cashed in until TARP funds are repaid.

We are beginning to acquire a genuine loyal opposition and it is not the Republicans.

Naturally experts are shocked. How will we retain the geniuses who have skillfully guided our financial markets these many years? And think of the unintended consequences!

“These rules will not work,” James F. Reda, an independent compensation consultant, said on Friday. “Any smart executive will (a) pay back TARP money ASAP or (b) get another job.”

Wonks Anonymous thinks that plan a sounds just grand. Particularly since our friends in finance seem to be sitting on the money that we already gave them except when they pay it out to themselves. He is skeptical about the workability of plan b. Maybe they should just start buying lottery tickets now.