Pay czar: Bailed out banks overpaid execs

You don’t say? Why didn’t Bush attach any strings when he implemented this system? As “the CEO President” shouldn’t he have known better? Or is it because he was “the CEO President” he failed and stuck the public with a few billion dollars more? Either way, where were the Republicans back at the time of the bailout calling for precautions against a blank check? The shameless GOP bastards were fine with the corporate socialism but struggled to support helping average Americans who are unemployed because of Wall Street greed.

The government’s “pay czar” announced Friday that 17 companies benefiting from federal bailout money handed out $1.6 billion in excess executive compensation at the height of the financial crisis.

Kenneth Feinberg, who was appointed as the Obama administration’s special master for compensation, examined executives earning more than $500,000 at the 419 firms that received taxpayer assistance. Out of the 17 companies he found were egregious in their compensation, 11 have paid back the assistance received from taxpayers.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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