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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.

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"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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