Obama's Pay Czar to Release New Rulings on Executive Pay

ABC ^ | 12/10/09 | MATTHEW JAFFE

[Nachum]

The Obama administration's pay czar, Ken Feinberg, will release new rulings Friday morning on the pay packages for some of the highest-paid employees at six companies receiving what the administration deems "exceptional assistance" from the government. Share Not much has changed in terms of pay since the banking meltdown.

The rulings will cover 2009 compensation for the 26th to 100th highest-paid employees at six companies: AIG, Citigroup, GM, Chrysler, and the automakers' respective financing arms -- GMAC and Chrysler Financial.

Feinberg will impose a $500,000 salary cap on these employees unless "good cause" can be proven, a source familiar with the situation told ABC News Thursday.

[Nachum]

The list, ping

[4rcane]

they seem to have left out goldman sach and jp morgan, the main culprits

[unkus]

Oligharcies always ommit certain people/organizations.

We might as well tell Congress to go home.

[Dubya-M-DeesWent2SyriaStupid!]

I have a gut feeling Obama will announce a toilet paper czar soon. He will ration toilet paper and tell us how to wipe our asses.

[hal ogen]

I think they already have the rule: You must first kiss the Nobama’s ass, then you can wipe yours.

[SunkenCiv]

Thanks Nachum.

[ComputerGuy]

...salary cap on these employees unless "good cause" can be proven...

At least we're gonna be objective about it /s

[Dubya-M-DeesWent2SyriaStupid!]

exactly!

[opentalk]

There needs to be a legal challenge to these czars. If not they will continue to impose more controls.

I think there is some Alinsky rule being applied. - Power is also what the enemy thinks you have.