The original content of Democracy Now! Headlines appears under the Creative
Commons BY-NC-ND 3.0 License (United States). For more, including their other
shows and media, visit www.democracynow.org.
June 11, 2009

New “Compensation Czar” to Oversee Exec Pay
-------------------------------------------



The Obama administration has appointed a Washington, DC attorney to
become the so-called “compensation czar” overseeing the salaries of top
executives at bailed-out financial firms. Kenneth Feinberg will have
authority to set the compensation for executives at seven
taxpayer-rescued companies, including Citibank, Bank of America and
General Motors. The White House, however, has dropped an initial pledge
to cap executives at $500,000.



.