White House Pay Czar Won’t Go After $1.6B in Bank Executive Pay
Fox News reported Friday, July 23, 2010, that Mr. Kenneth Feinberg, President Obama’s Pay Czar, announced that he would not try to recoup $1.6 billion in compensation given to the top executives of bailed-out banks because he thought shaming them was punishment enough. WHAT?! Is shame a tangible commodity that will jump-start the economy, create more jobs, pay-off the deficit or compensate the millions of families now without jobs?
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It’ll be interesting to watch the professional future of this Mr. Feinberg. After his stint in Obama’s administration, I wonder if he’ll ever find a job with any of those fine people he just “shamed”.