Obama Set to Appoint Pay Czar

[FUZO]

TweetWow some of you voted for this scum bag and now he gave a job to one man to hand out funds to whom and how much. So give a man a job to tell how much this person gets and that person gets. some of you peole need to wake up and get the word out he's not the president who you thought he was. Like I have been saying the scum bag wants to control our lives and tell us what to eat and drink and drive




-- 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.

The administration is expected to name Kenneth Feinberg, who oversaw the federal government's compensation fund for victims of the Sept. 11, 2001, terrorist attacks, to act as a pay czar for the Treasury Department, these people said.

Feinberg's appointment could be announced as early as next week, when the administration is expected to release executive-compensation guidelines for firms receiving aid from the $700 billion Troubled Asset Relief Program. Those companies, which include banks, insurers and auto makers, are subject to a host of compensation restrictions imposed by the Bush and Obama administrations and by Congress.

Wall Street has been anxiously awaiting more details on how the rules will be applied. "The law is confusing and a bit ambiguous, and so we're looking for certainty as to how to structure pay incentives," said Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable, a trade association.

The move comes amid a series of sometimes-overlapping efforts to curb pay at financial firms following perceived industry excesses that led to the lending boom and bust.

The Obama administration earlier this year issued guidelines that include limiting salary for top executives at some firms receiving TARP funds and requiring that additional pay be in the form of restricted stock, vesting only after the company repays its debt, with interest, to the government. Congress then chimed in with even tougher rules curbing bonuses for top earners at firms receiving TARP money. As part of that effort, lawmakers barred those firms from paying top earners bonuses that equal more than a third of their total compensation.

The White House has been wrestling with how to marry those two efforts, which in combination are more punitive than administration officials had intended.

[daved150]

Tweetdam...this fukers got czars for EVERTHING!!! i wanna be the fitness czar!!! i get to chose whats can be sold and not sold as supllements for the fitness industry. i'll also over see equipment and the dept of weight's and means....(we'll makes sure the plates really weigh 45lbs!!!)


hey firstenergy.....where do you apply for the "czar" jobs?!!

[bigbadexcursion]

Tweetwho is surprised?