The “pay czar’s” name game

September 18, 2009

Is pay Czar KennKenneth Feinbergeth Feinberg going to name and shame?

At a speech yesterday in Washington, Feinberg said he planned to disclose the pay for the top 25 employees at Wall Street firms within the next 30 days, according to a research note by Jaret Seiberg, of Concept Capital. Seiberg saw Feinberg’s talk.

But it is not clear if names would be redacted from that disclosure, with perhaps only titles and salaries revealed.

Feinberg is charged with examining pay packages at companies that received government bailout money, including Citigroup <C.N> and American International Group Inc. <AIG.N>

Feinberg yesterday also indicated that he would like his work as pay czar to have staying power, according to Seiberg’s note, but it would be up to other regulators to “ultimately decide how broadly” his policies apply.

Seiberg also noted that Feinberg “seemed very uncomfortable” about using his power to claw back compensation already paid. But he also sugested egregious examples may warrant recoupment.

2 comments so far | RSS Comments RSS

There is no real accountability without clawback. I can nurse my immense shame and hurt feelings pretty well in posh isolation so long as I get to keep my millions and the vilas and the continuing corporate perqs guaranteed in my golden-parachute contract.

Posted by bfranklin | Report as abusive

Prime example of how Obama punishes sucessfull people.

Should we start to CAP how much money do Movie actors make?

they are people just like others no?

Socialism Obamas agenda

Posted by ian | Report as abusive

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