Following in Claire McCaskill’s “idiots” claim, President Barack Obama announced in a press conference Wednesday that executives of firms accessing bailout funds provided from the U.S. government will have their annual compensation capped at $500,000.

The President said that “[his] administration will do whatever it takes to restore our financial system,” indicating the broad range of policies introduced by the President in just his first three weeks in control, and referring to public lost confidence in the ability for bailout packages to succeed seen in factors such as executives purchasing private jets and other extravagances.

Tim Geithner, the President’s new Treasury secretary said “we will have to do more, substantially more to resolve the problem, the executive compensation policies we’re announcing today are to strengthen the public trust,” referring to rebuilding confidence in even the ability to fix the problem.

Firms will still be allowed to pay executives with stocks and equity in the business, but the employee will not be able to liquidate the funds until the firm is no longer a bailout recipient and all debts are made good upon.

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