White House to appoint “pay czar”

Posted by Marc Hodak on June 7, 2009 under Executive compensation, Stupid laws | Be the First to Comment

According to our private sources:

The Obama administration plans to appoint a “Special Master for Compensation” to ensure that companies receiving federal bailout funds are abiding by executive-pay guidelines, according to people familiar with the matter.

They appear to be set to name Kenneth Feinberg, a lawyer, whose main qualification appears to be that he had the word “compensation” in his previous title.  His job will be to sort out the contradictory, illogical morass that Congress has created for TARP recipients.  Good luck Ken.