The United States House of Representatives acted twice last week to increase federal oversight over funds distributed under the Troubled Asset Relief Program ("TARP"). On Thursday, the House Financial Services Committee approved the Grayson-Himes Pay for Performance Act of 2009 (H.R. 1664). This bill is intended to curtail "unreasonable and excessive" compensation and non performance-based bonus and retention payments made to executives and employees of companies that receive or have received TARP funds and funds under the Housing and Economic Recovery Act of 2008.

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