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Klobuchar: Obama's decision to freeze executive pay cap is significant: 'It's not chump change'

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ST. PAUL -- Freezing salaries of executives whose businesses receive federal economic recovery aid is more than symbolic, Minnesota's U.S. senator says.

"It's not just chump change," Sen. Amy Klobuchar said.

The Democrat explained that 116 banks that received federal payments paid top executives an average of $2.6 million. "It is a lot of money," she said.

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