Fed drafts measure to trim executive pay

The Fed may follow suit with Pay Czar Kenneth Feinberg‘s pay cap of bailed-out firms and regulate executive compensation across the board. (FT)

GM CEO Fritz Henderson will get a raise this year to $5.45 million. (Bloomberg)

Sen. Harry Reid is taking a risk in still pushing for a public option. (NYT)

But Republican Sen. Olympia Snowe says she won’t vote for any public option. (Bloomberg)

The House Financial Services Committee, led by Rep. Barney Frank, passed a measure to create a consumer protection agency. (NYT)