BUSINESS
06/22/2009 05:12 am ET | Updated May 25, 2011

Geithner Calls for 'Very Substantial' Change in Wall Street Pay

Treasury Secretary Timothy Geithner called for major changes in compensation practices at financial companies and said the Obama administration's plan to help realign pay with performance will be rolled out by mid-June.

"I don't think we can go back to the way it was," Geithner said in an interview on Bloomberg Television's "Political Capital with Al Hunt," to be aired tonight and over the weekend. "We're going to need to see very, very substantial change."

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