Via Noam Scheiber, I see there's some question about this. Here's the president's statement from yesterday:

I look forward to receiving a final product that will serve as a strong signal to the executives who run these firms that such compensation will not be tolerated.

And here's what he said on Leno last night:

Well, look, I understand Congress' frustrations, and they're responding to, I think, everybody's anger. But I think that the best way to handle this is to make sure that you've closed the door before the horse gets out of the barn. And what happened here was the money has already gone out and people are scrambling to try to find ways to get back at them.

It also seems like this could be interpreted as a mild rebuke of Geithner, who said yesterday that he asked Congress for the stimulus provision that kept the compensation restrictions from applying to contracts inked before February 11. Tim Geithner is always letting horses out of the barn.