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Ken Feinberg In Complete Agreement Comp Caps Are Raw Deal

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So, okay. Kenneth Feinberg said at a conference this morning that he is worried that the pay cuts he came up with will drive away talent from the companies on whose asses he's placed caps.

Kenneth Feinberg, the Obama administration's special master for executive compensation, said he is "very concerned" about the possibility his pay cuts may drive talent away from companies bailed out by U.S. taxpayers.

What's happening here? Is this one of those situations where he's being like I understand where you're coming from, I'm not disagreeing with you, but it's too late and you have only yourselves to blame. OR: is K.Fein starting to second guess himself? Is it possible in his moment of vulnerability he can be broken? OR (and this is this most likely scenario): are we witnessing a little passive aggression being thrown in the direction certain elvin colleagues at the Treasury, whose incessant sniveling has worked Feinberg's last nerve? He likes the caps just fine but if it means undermining the world's most famous tax-evader he's willing to do what it takes?


Warren Buffett And David Einhorn Are In Agreement Re: The Frigidity Of Their Disfavored Investment Ideas

Back in February, in his annual letter to investors, Berkshire Hathaway chief Warren Buffett spent a good bit of time discussing why one shouldn't own gold. Beyond the fact that, according to WB, gold doesn't "change in size and [is] incapable of producing anything," and you'd be much better off buying farmland (which "a century from now will have produced staggering amounts of corn, wheat, cotton and other crops and will continue to produce that valuable bounty") or shares of Exxon Mobil (which "will probably have delivered trillions of dollars in dividends to its owners," the Oracle of Omaha had one incontrovertible, be all end all reason for eschewing the metal: its unfuckability. Oh sure, you can do things to a cube, you can fondle it, you can talk dirty to it, you can send nude pictures of yourself, you can even drill a hole in it and fuck it senseless, but, the thing is, the cube will not respond. No reciprocation, no gratitude, not even a sign it enjoyed itself.  For Buffett, no further argument was necessary as to the worthlessness of the commodity. (Silver, on the other hand, will make you feel like you're 18 again.) Anyway, David Einhorn sort of feels the same way about the dollar. Greenlight Capital 1Q2012 Letter To Investors [PDF] Related: Don't Think He Hasn't Tried