Posted on 06/15/2009 5:21:36 AM PDT by Libloather
White House appoints executive pay czar
Glenn Somerville and Karey Wutkowski, Reuters
Published: Wednesday, June 10, 2009
WASHINGTON -- The Obama administration Wednesday named Kenneth Feinberg, the lawyer who oversaw the government's compensation fund for victims of the Sept. 11, 2001, attacks, as its pay czar to police compensation of top earners at companies receiving "exceptional" government aid.
The administration also urged new laws to give ordinary shareholders more say on how executive salaries are set.
The pay packets of top executives, which sometimes are equal to several hundred times the pay of average employees, ignited a storm of controversy after the U.S. Treasury rescued banks and other companies from the brink of collapse by pumping in billions in taxpayer dollars.
Many banks have chafed at restrictions on pay that accompanied the capital injections - restrictions that 10 top U.S. banks will be free of after winning clearance on Tuesday to repay their bailout money.
Mr. Feinberg was named "special master" with authority to review, and potentially reject, compensation packages for executives at firms receiving taxpayer help.
(Excerpt) Read more at financialpost.com ...
Fascism at work.
Does anyone else see the irony...that this affirmative-action president who least deserves to be in the position of power he’s in...and largely because of White Guilt that voted for him to absolve themselves and this nation of the horrible guilt we bear because of slavery...appoints someone to lord over our earnings...
and calls that person “Master”?
Hmmm..Special Master....has kind of an apocalyptic ring to it...
..ask the prime bond holders how they feel about being ordinary in the auto industry
All shareholders are equal, but some are more equal than others.
Imagine if football teams had been bailed out and Bush had appointed a “master” to oversee their salaries. Wonder if there would have been outrage, offense taken, huge firestorm.
The 0bamunist March to Marxism continues...
I hope there’s a country left to save when the sheeple finally wake up and smell the coffee.
“”Kenneth Feinberg, the lawyer who oversaw the government’s compensation fund for victims of the Sept. 11, 2001, attacks”
What was the controversy surrounding this guy when he was mediating the compensation? There was something but I can’t remember what it was..
That applies after they pay the money back, which none of them have, the money, to pay back!!!
“The best way I know to punish a province is to let it be ruled by a professor” ...Fredrick the Great...Those “Master” and “Czar” appointments by some screw ball Marxist professor come streight out of academia. Worse yet they are going to people who by their own admission have no experience in the fields their assigned to run . Whats next ? Take surgeons out of hospitals to work as carpenters and carpenters become brain surgeons ?
Whats worse nada peep out of MSM, or worse yet nuttin from the political opposition.
http://www.theusmat.com/
Can somebody show me where in the Constitution it says “the president may appoint, without oversight, as many “czars”(who answer only to him) as he may desire.”
And WHAT in the hell is all of this CZAR shit? I thought CZAR's were RUSSIANS.
Uhbama is really one silly man.
That was around the same time as we began "waging" wars against everything but our actual enemies.
In crazy Big Govt. speech, wars are now fought against poverty, drugs, disease, drunk driving and so on.
Actual military actions involving killing are now called "policing" in crazy-speak.
I find that the quote "Whom the gods would destroy they first make mad" comes to mind more and more often over these past years.
AV
Is he stupid or silly? He is in the process of lowering the salaries of the people he expects to tax in order to pay for his socialism. What an idiot.
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