Pay Czar Will Not Recoup $1.6b: ; Feinberg Says Shame Is Enough; Won't Seek Compensation From Bank Executives
Charleston Gazette › July 27, 2010
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Summary
WASHINGTON - For all his tough talk about excessive pay for bankers, the Obama administration's pay czar let the executives go without a fight.
Kenneth Feinberg announced Friday that he would not try to recoup $1.6 billion in compensation given to top executives at bailed-out banks because he thought shaming them was punishment enough.See the full content of this document
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Pay Czar Will Not Recoup $1.6b: ; Feinberg Says Shame Is Enough; Won't Seek Compensation From Bank Executives
His decision to go easy on 17 banks that made "ill-advised" payments to their executives is likely to fuel concerns about how he will oversee the $20 billion oil spill compensation fund created by BP.
"I'm not suggesting we should blink or turn the other cheek," Feinberg said...See the full content of this document
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