“Anything is possible under the law”

Posted by Marc Hodak on August 17, 2009 under Executive compensation, Reporting on pay | Be the First to Comment

The speaker is “Pay Czar” Kenneth Feinberg.  The law he is referring to are the compensation clauses under the TARP legislation passed last September and February.

What does “anything is possible under the law” mean?  I thought laws were supposed to delineate what was not permissable.  Feinberg clarifies what “Pay Czar” means:

“The statute provides these guideposts, but the statute ultimately says I have discretion to decide what it is that these people should make and that my determination will be final,” Feinberg said.

“The officials can’t run to the Secretary of Treasury. The officials can’t run to the court house or a local court. My decision is final on those individuals.”

Man.  I wonder if this means that he can also fend off the green-eyed monster we call Congress?