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.
October 28, 2009

Report: White House Pay Czar Increased Wall St. Salaries
--------------------------------------------------------



In financial news, the White House pay czar overseeing seven major
bailed-out firms actually increased base salaries at the same time as he
cut overall compensation last week. Kenneth Feinberg reduced
compensation by about half for 136 employees, including twenty-five
executives. But the Wall Street Journal reports Feinberg raised salaries
an average fourteen percent after the banks complained. Neither Feinberg
nor the Treasury Department discussed the salary increases when they
announced the cuts last week. The increases offset the total cuts by “a
small amount.”



.