Ledger DC Journal - News, Politics & Crime

Pay czar advocates cuts - to slash executive pay at bailed-out companies? President Barack Obama's pay czar Ken Feinberg may cut pay of top 100 executives at bailed out companies. Feinberg wants to expand his pay punishment to the top 100 earners at America's bailed-out financial firms.

Pay Czar Cuts: Executive Pay at Bailed-Out Companies Slashed?

Rediff notes, "The drastic move comes in the wake of widespread criticism of executives being paid huge salaries even as their companies survive on tax payers' money."


The Obama administration plan is certainly aimed at addressing public outrage over massive million dollar bonuses and paychecks.

Rep. Jose Serrano (D-Bronx), chairman of the House Financial Services subcommittee tells the New York Daily News, "The argument here is a simple one. They're taking public funds. Congress is in charge of those public funds. It's totally inappropriate to go around paying themselves the kind of bonuses and salaries that they did."

NBC News service has video here with Brian Foley, Brian Foley & Co. and CNBC's Maria Bartiromo on the story.