Wall Street needs reality check on pay: Grassley

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Published in Reuters April 27, 2009 by Martha Graybow.

Wall Street has shown little interest in getting rid of lucrative employee payouts even after the financial industry needed billions in taxpayer bailouts, a leading U.S. Senate Republican said on Monday.

Charles Grassley, of the Senate Finance Committee, said financial industry leaders — particularly those at companies that have accepted bailout funds — need to be more in touch with the rest of the country when crafting employee compensation.

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