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Pay Czar

America's Anger at the Great Financial Bailout and the Press' Continuing Inability To Understand Why

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

What galls most Americans is the manner in which Wall Street rewarded itself after it was the public that took the risk of bailing them out.

The President's Misdirected Class Warfare

Raymond J. Learsy | Posted 05.25.2011 | Politics
Raymond J. Learsy

It is not whether families earning $250,000 are paying more or less taxes that is of visceral concern. The public still feels they have been held up and the Wall Street perpetrators are laughing all the way to bank.

Feinberg: BP Is Stalling Payments To Victims

CNBC | Reuters | Posted 05.25.2011 | Business

British energy giant BP is holding up payments to economic victims of the Gulf of Mexico oil spill, Kenneth Feinberg, administrator of a $20 billion c...

The Administration's "Pay Czar" Soft Pedaling Bank Bonuses as "Ill Advised." What Is This Man Talking About?"

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

Feinberg is permitting the $1.6 billion he identified as "ill advised" payments to sit cozily in bankers bank accounts, monies that could well be deemed taxpayer gratuities, and with Feinberg counting, one could well imagine the sums are far greater.

White House Pay Czar Expected To Blast 17 Banks For 'Ill-Advised' Payments To Execs

Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

Kenneth Feinberg, the Obama administration's "pay czar," is set to slam the leadership of 17 bailed-out banks and other financial institutions that pr...

Pay Czar To Banks: Give Back Your 2008 Bonuses

foxbusiness.com | Posted 05.25.2011 | Business

Pay czar Ken Feinberg is getting ready to stick it to Wall Street again, preparing to demand, or "claw back", bonus money that some banks paid out dur...

CEO Compensation Defy Obama With More Cash Instead of Pay for Performance

bloomberg.com | Alexis Leondis, Jessica Silver-Greenberg and Tara Kalwarski | Posted 05.25.2011 | Business

With pay packages under pressure from President Barack Obama and shareholder activists, average compensation fell by 8.6 percent to $9.81 million for ...

Pay Czar's Pay Limits Didn't Drive Most Execs Away

nytimes.com | ERIC DASH | Posted 05.25.2011 | Business

For months, Wall Street banks and the troubled automakers feverishly protested that their top executives would flee if they were not lavishly rewarded...

AIG Bonuses: Insurer To Withold $21 Million

Bloomberg | Hugh Son | Posted 05.25.2011 | Business

March 12 (Bloomberg) -- American International Group Inc.'s effort to reach its commitment of $45 million in bonus concessions are focusing on former ...

AIG Execs May Get Pay Raise (VIDEO)

Posted 05.25.2011 | Business

AIG may have lost $8.87 billion last quarter -- and may be in need of another federal cash infusion -- but some of the company's top executives are se...

Pay Czar: Kenneth Feinberg You're worth less than you think

Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

In an interview with Kenneth Feinberg, the Obama administration's pay czar, The Hill leads with one highly intriguing anecdote. A Wall Street execut...

Kenneth Feinberg, Obama's Pay Czar, Blasts Goldman Sachs CEO's $9M Payday (WATCH)

Posted 05.25.2011 | Business

Obama's pay czar isn't happy with the $9 million payday that Goldman Sachs is set to give its CEO, Lloyd Blankfein. In an interview with Bloomberg...

AIG Bonuses: Geithner Says Bank Fee Could Recover 'Outrageous' Payments

Posted 05.25.2011 | Business

After AIG announced its plans to pay $100 million in expedited bonuses this year, Treasury Secretary Tim Geithner criticized the payouts as "outrageo...

AIG Bonus Cuts

wsj.com | SERENA NG | Posted 05.25.2011 | Business

Most employees currently at the financial-products unit of American International Group Inc. have indicated they will accept cuts in a batch of March ...

Pay Czar Set To Announce Next Wave Of Compensation Limits Today

nytimes.com | REUTERS | Posted 05.25.2011 | Business

NEW YORK/WASHINGTON (Reuters) - The Obama administration's pay czar plans to announce on Friday his next wave of rulings as bailout recipients struggl...

Supreme Court To Hear Case About Excessive Pay; Parallels Seen In Executive Compensation

Washington Post | Robert Barnes and Steven Mufson | Posted 05.25.2011 | Business

The Supreme Court this week will hear a case that raises bedrock questions about the ability of the market to set "reasonable" corporate compensation,...

Bank Pay: Despite Pay Czar's Most Top Executives Have Left Bailed-Out Firms

washingtonpost.com | Tomoeh Murakami Tse and Brady Dennis | Posted 05.25.2011 | Business

The administration had tasked Kenneth Feinberg, the Treasury Department's special master on compensation, to evaluate the pay packages of 25 of the mo...

Kenneth Feinberg, 'Pay Czar' fingerprints on Citi move to sell Phibro

Yahoo! News | Steve Eder and Karey Wutkowski | Posted 05.25.2011 | Business

NEW YORK/WASHINGTON (Reuters) -- The U.S. government's "pay czar" played a critical role in Citigroup's(C.N) decision to sell off its lucrative commod...

Pay Czar, Kenneth Feinberg: Says Lack of Pay Authority Is Disappointment (Update1)

bloomberg.com | Ian Katz | Posted 05.25.2011 | Business

Jan. 6 (Bloomberg) -- Kenneth Feinberg, the U.S. special master on executive compensation, said he's disappointed he lacks authority to have greater i...

Sam Stein

Pay 'Czar' Feinberg: I'm Not Eager To Use Imperial Edicts

HuffingtonPost.com | Sam Stein | Posted 05.25.2011 | Business

The man known as President Obama's "czar" of CEO pay, Kenneth Feinberg, said on Thursday that he finds the title "unfortunate" and believes that the c...

Sunday Roundup

Arianna Huffington | Posted 05.25.2011 | Business
Arianna Huffington

This week, Obama's pay czar announced he'd be slashing executive pay at seven of the biggest recipients of bailout billions. So it's no surprise that many of Wall Street's Masters of the Universe didn't turn up at the New York fundraiser President Obama spoke at -- choosing instead to attend a party thrown to toast the release of Too Big To Fail, Andrew Ross Sorkin's blow-by-blow account of the meltdown. There, enjoying cocktails and finger food, were many of the central players, including Jamie Dimon of JP Morgan and John Mack of Morgan Stanley. Which is kind of like Hannibal Lecter showing up for the opening of Silence of the Lambs. Perhaps they take comfort in Sorkin's assessment that when it comes to reforming Wall Street "the Obama administration seems to have moved on to other priorities." I need a drink.

Wall Street Bonuses: Four Questions

Jill Schlesinger | Posted 05.25.2011 | Business
Jill Schlesinger

How did some of these banks make so much money? You can thank the government. First and foremost, there was TARP funding.

Pay Czar Kenneth Feinberg Plans To Cut Salaries, Increase Stock Compensation

wsj.com | By DEBORAH SOLOMON | Posted 05.25.2011 | Business

WASHINGTON -- The Obama administration's pay czar is planning to clamp down on compensation at firms receiving large sums of government aid by cutting...

Bailout Refunds Are Really About Escaping Pay Limits: Andrew Ross Sorkin

nytimes.com | ANDREW ROSS SORKIN | Posted 05.25.2011 | Business

Bank of America is paying back $45 billion in taxpayer-provided bailout money, and the government now says it expects to get back $200 billion in thos...

Pay Czar Kenneth Feinberg Raised Base Pay At Bailed Out Firms

Wall Street Journal | DAVID ENRICH and DEBORAH SOLOMON | Posted 05.25.2011 | Business

Treasury Department pay czar Kenneth Feinberg last week announced sharp cuts in total compensation at the finance and auto companies under his control...