If you believe the CEOs of the most distinguished members of the bank bailout club were all playing along with the short-term profit focused bonus bonanza and want to see Ken Feinberg extract a pound of flesh, keep waiting. Whether it was a result of his compensation model crashing when trying to incorporate across-the-board clawbacks or fear certain Facebook users might delete him as a friend, Feinberg is going to let bygones be bygones.
“I’m wary of exercising that authority in too many cases,” Feinberg said during remarks to the Chicago Bar Association’s executive compensation institute. “I’m not sure it’s a good ides for the Department of the Treasury to seek to recover … money from individuals.”
As the guy in charge of evaluating whether or not bank CEOs achieved the goals their compensation seems to justify, KF also shared a little insight into what his own goals are for the government determined compensation scheme.
I’m hoping the companies will be comfortable with what we reached. I’m hoping that I won’t be required to make a decision over the companies’ objections.”
No clawbacks you say? Nope, no objections.
U.S. Pay Czar Wary Of Ordering Executives To Return Pay [WSJ]
I have it on good authority that the guy wears a thong.
“Whether it was a result of his compensation model crashing when trying to incorporate across-the-board clawbacks or fear certain Facebook users might delete him as a friend, Feinberg is going to let bygones be bygones”
Greg the obfuscator strikes again!
I could be just rankly speculating here, but it sounds like he’s subtly suggesting that BoD’s and shareholders should actually hold their executives accountable so he doesn’t have to exercize his Czarness on their candy asses
Greg’s pay should be capped at minimum wage.
@2 – I actually found that sentence to be much clearer than the bunch of words before the first period that are masquerading as the first sentence.
*chirp*
OUCH
*chirp*
MMMMMMM
@ Analyst
What kind of a stupid idea is THAT!?!
Shareholders exersizing their rights and being responsible…. Psssh. I can tell you that nothing good comes of that.
Jerry Yang
@7 – Nice. That seems like a million years ago.
Greg-
You doth suckest much….
Billy Shakespeare
really? im going to be the first one to say this? ok, then…
greg, i want to put an iron fist up your ass