Posts about Kenneth R. Feinberg Watch as of October 24, 2009

This vidfeo from the USA is called Who Gave Away Taxpayer Money for Bankers’ Bonuses? USA: According to the report issued Thursday by Treasury Department “pay czar” Kenneth Feinberg, at least 66 of the 138 bank and corporation executives under his jurisdiction will receive government-approved compensation packages totaling more than $1 million a year: here . Michigan Governor Jennifer Granholm announced a $127-per-pupil funding cut on Thursday.

Finally the five network chiefs have developed a spine. When the White House tries to muffle the media, we all lose.    ~P.E.R. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Obama administration on Thursday tried to make “pay czar” Kenneth Feinberg available for interviews to every member of the White House pool except Fox News.

Oct24 News Anchor Reuters – AIG , the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives after U.S. pay czar Kenneth Feinberg gave it the green light.Read the Full StoryAIG to disburse $12 million in delayed exec payments (Reuters) Share and Enjoy:Related News PostsOctober 14, 2009 — AIG to sell Taiwan insurance unit for $2.15 billion (Reuters) – 413th Business NewsOctober 23, 2009 — U.S.

The U.S. Treasury and the Federal Reserve on Thursday unveiled a set of rules to slash excessive executive compensation in a move to comfort the furor over executive pay at companies bailed out with taxpayer money. According to the order released by the Treasury Department, seven firms that received the most federal aid, namely Bank of America Corp., American International Group Inc., Citigroup Inc., General Motors, GMAC, Chrysler and Chrysler Financial, will be forced to slash their compensation to 175 highest-paid employees.

オバマ政権は金融機関で働く人たちのボーナスなどを制限表明した： http://www.washingtonpost.com/wp-dyn/content/article/2009/10/22/AR2009102204422.html   The administration had tasked Kenneth Feinberg, the Treasury Department’s special master on compensation, to evaluate the pay packages of 25 of the most highly compensated executives at each of seven firms receiving exceptionally large amounts of taxpayer assistance.   しかし、その結果：   But Thursday, he ruled only on slightly more than three quarters of the pay packages that were to be under his purview.

This week, the Obama “pay czar”, Kenneth Feinberg announced that he would be cutting the cash salaries of TARP company executives by 90% and total compensation by 50%. My first reaction to this was utter elation. The part of me that is fed up with arrogant corporate CEO’s who are oblivious to the economic suffering of this country, and their contribution to it, raised his fist in a defiant “screw the fat cats!” It’s about damn time! Then I paused a moment and thought, wow, I’m no expert on socialism but isn’t this the government controlling the detailed operations of what used to be free enterprise? Well, yes it is.

Obama the liar catches OUR pants on fire! Obama – the Pied Piper of Government – dulcet tones read from a teleprompter, his eyes going from left to right following his speech as written by some of his socialist companions… there is no doubt that he is a good orator, but only if he has his teleprompter to refer to.  Without it, he is pathetic in his delivery.  However, what this country needs is not a good orator, but a leader who is willing to make decisions predicated on the country’s needs – not following strictly political aims.  His political aims are what makes him attack the Chamber of Commerce, insurance companies, Fox News and Wall Street.

The Treasury Department on Thursday tried to make “pay czar” Kenneth Feinberg available for interviews to every member of the network pool except Fox News. The pool is the five-network rotation that for decades has shared the costs and duties of daily coverage of the presidency and other Washington institutions.via Administration Loses Bid to Exclude Fox News From Pay Czar Interview – Political News – FOXNews.com .Ok normally I don’t really comment on political topics, there are a great many more out there more capable and more willing than I do so and I don’t care to muddy the waters any more than they already are.

The Obama administration on Thursday failed in its attempt to exclude Fox News from participating in an interview of an administration official , as Republicans on Capitol Hill stepped up their criticism of the hardball tactics employed by the White House. The Treasury Department on Thursday tried to make “pay czar” Kenneth Feinberg available for interviews to every member of the network pool except Fox News. The pool is the five-network rotation that for decades has shared the costs and duties of daily coverage of the presidency and other Washington institutions.

October 24, 2009 – 1:48 am NEW YORK (Reuters) – AIG , the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives after U.S. pay czar Kenneth Feinberg gave it the green light. Read the rest of the story…

Reuters – AIG , the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives after U.S. pay czar Kenneth Feinberg gave it the green light.

It was a fanciful fantasy while it lasted. Fox News boss Roger Ailes has no intentions of running for president, contrary to speculation in Politico this a.m. that got a lot of media buzz . Ailes through an aide: “This country needs fair and balanced news more now than ever before, so I’m going to decline a run for the presidency. Besides, I can’t take the pay cut.” No shit, Sherlock. Ailes rakes in $24 mil a year. And Kenneth Feinberg, there’s not a damn thing you can do about it…

Tiff over White House camera crew and Fox NEW YORK ? The Obama administration allowed a Fox News Channel reporter to interview Treasury Department “pay czar” Kenneth Feinberg after other network news executives said they wouldn’t use a pool arrangement to speak to him unless Fox was included. The dispute over the interview on Thursday comes in [...]

AP – The Obama administration allowed a Fox News Channel reporter to interview Treasury Department “pay czar” Kenneth Feinberg after other network news executives said they wouldn’t use a pool arrangement to speak to him unless Fox was included.

Reuters – Pay czar Kenneth Feinberg emphasized on Friday his ability to claw back pay at any company receiving a taxpayer bailout, but said such an extreme action “will be rare and far between.”

NEW YORK (Reuters) – AIG (AIG.N), the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives after U.S. pay czar Kenneth Feinberg gave it the green light. In a regulatory filing, AIG said Chief Financial Officer David Herzog was paid $1 million, and Kristian Moor, chief executive of AIG’s property-casualty division, Chartis, received $1.6 million. Jay Wintrob,… [[ This is a content summary only.

October 23, 2009 – 11:33 pm NEW YORK (Reuters) - AIG , the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives after U.S. pay czar Kenneth Feinberg gave it the green light. Read the rest of the story...

We reported earlier that when Fox News was banned from a round-robin interview with Obama administration “Pay Czar” Kenneth Feinberg , the bureau chiefs of the other major networks banded together to thwart the White House. Now, Mediaite has learned exclusively that the Treasury Department, who set up the interviews, denies the story. A Treasury Department spokesperson tells Mediaite the following: There was no plot to exclude Fox News, and they had the same interview that their competitors did.

Who could have guessed at this outcome?  Um, just about everyone who ever worked in the private sector:Even before the Obama administration formally tightened executive compensation at bailed-out companies, the prospect of pay cuts had led some top employees to depart.The administration had tasked Kenneth Feinberg, the Treasury Department’s special master on compensation, to evaluate the pay packages of 25 of the most highly compensated executives at each of seven firms receiving exceptionally large amounts of taxpayer assistance.But Thursday, he ruled only on slightly more than three quarters of the pay packages that were to be under his purview.

bluestateguy Fine. Next time they do that just throw in a reporter from the Huffington Post & a Daily Kos blogger White House Loses Bid to Exclude Fox News From Pay Czar Interview Source Fox The Obama administration on Thursday tried to make "pay czar" Kenneth Feinberg available for interviews to every member of the White House pool except Fox News. But the Washington bureau chiefs of the five TV networks decided that none of their reporters would interview Feinberg unless Fox News was included.

Source: The Guardian US • 'Pay tsar' to cap salaries at $500,000 at bailed-out firms • Fed to tackle rewards for 'imprudent risks' Andrew Clark in New York guardian.co.uk, Thursday 22 October 2009 22.39 BST Leading US banks will be subject to a dual crackdown on multimillion dollar pay packets, as the Federal Reserve set out broad plans to scrutinise remuneration and the Obama administration's so-called "pay tsar" confirmed that salaries will be slashed at institutions receiving government aid.

NewsOXY 'Government Representing the Taxpayers,' Says White House Pay Chief ABC News One day after slashing cash payments to the top 25 executives at seven bailed-out companies by an average of 90 percent, the Obama administration's pay czar, Kenneth Feinberg, today defended the government's involvement in the ... Fox Pushed Team Obama Over the Brink U.S.

October 23, 2009 – 10:01 pm WASHINGTON (Reuters) - Pay czar Kenneth Feinberg emphasized on Friday his ability to claw back pay at any company receiving a taxpayer bailout, but said such an extreme action "will be rare and far between." Read the rest of the story...

  The Obama administration on Thursday failed in its attempt to manipulate other news networks into isolating and excluding Fox News, as Republicans on Capitol Hill stepped up their criticism of the hardball tactics employed by the White House.   The Obama administration on Thursday tried to make "pay czar" Kenneth Feinberg available for interviews to every member of the White House pool except Fox News. The pool is the five-network rotation that for decades has shared the costs and duties of daily coverage of the presidency.

(How the Press Pool Busted the White House Boycott of Fox!) (Then U.S. Senator Barack Obama Goes on Fox News Sunday. Circa 2008) (Fox News Sunday Panel Discusses the Fox Boycott! Circa 2008) White House's Fox News Boycott Attempt Prompts Network Revolt The White House attempted to block Fox News from a round of interviews with "pay czar" Kenneth Feinberg Thursday, but the Washington bureau chiefs of the five TV networks included in the White House pool refused to interview Feinberg unless Fox News was included.

U.S. stocks fell, wiping out a weekly gain for the Standard & Poor’s 500 Index, as a drop in oil weighed on energy producers and disappointing results at the nation’s largest railroad dragged down industrial shares - Bloomberg Deeds ignored advice, White House says. Top Democrats seek to shield Obama in case of election loss. Sensing that victory in the race for Virginia governor is slipping away, Democrats at the national level are laying the groundwork to blame a loss in a key swing state on a weak candidate who ran a poor campaign that failed to fully embrace President Obama until days before the election - Washington Post, Rosalind S.

“I wouldn’t begin to say how much money you should make on Wall Street, I’ve never worked on Wall Street. I don’t claim to know the ethos of Wall Street.” - Kenneth Feinberg, President Obama’s financial services industry pay czar, as quoted in the New York Times, October 22, 2009. Well of course it makes perfect sense that the person deciding Wall Street pay knows nothing at all about Wall Street.  Perfect sense.

Today, in the wake of special master for compensation Kenneth Feinberg’s decision to significantly restrict compensation at the seven companies under his office’s purview, the Wall Street Journal reported that Sen. Chuck Schumer (D-NY) “is mulling a law to apply the new rules to all public companies .” CNBC picked up on the Journal’s claim, and has been reporting over and over that Schumer wants to cap pay at every company in the U.S.

on October 23rd, 2009 WASHINGTON (Reuters) - U.S. pay czar Kenneth Feinberg on Friday emphasized his ability to claw back pay at any company receiving a taxpayer bailout but said such an extreme action “will be rare and far between.” Here is the original post: Pay czar emphasizes wide “clawback” power businessAdd to del.icio.usDigg ThisSubscribe to RSS feed

White House Loses Bid To Exclude Fox News From Pay Czar Interview – Fox NewsThe Obama administration on Thursday failed in its attempt to manipulate other news networks into isolating and excluding Fox News, as Republicans on Capitol Hill stepped up their criticism of the hardball tactics employed by the White House. The Obama administration on Thursday tried to make “pay czar” Kenneth Feinberg available for interviews to every member of the White House pool except Fox News.

The Obama administration on Thursday tried to make “pay czar” Kenneth Feinberg available for interviews to every member of the White House pool except Fox News. But the Washington bureau chiefs of the five TV networks decided that none of their reporters would interview Feinberg unless Fox News was included. Source: Fox News Posted in Uncategorized Tagged: Fox News, Kenneth Feinberg, Washington Bureau Chiefs, While House pool

This story should make people in this country feel good. That even though the other networks have been cheerleading for the President and saying bad things about the tea partiers and alot of other things they still do believe in free speech and put their money where their mouth was. they stepped up for Fox even though they are killing them in the ratings.

…And that number is on your paycheck, and it's gonna make you cry like babies! Um, or not. This week Kenneth Feinberg, the president's pay czar/comp cop/earnings eagle put his foot down with new rules about executive compensation at bailed-out companies — well, for some people, at some companies, at least… [T]he new measure may have more bark than bite, especially if the rules call for the executives’ total compensation to fall by an average of 50 percent: the actual pay cuts for the top 25 earners at Citigroup and Bank of America could be skewed because their chief executives have already agreed to enormous reductions.

According to CBS News.Com President Obama has said that big bonuses paid to executives of companies that have received federal bailout money offends American values:It does offend our values when executives of big financial firms that are struggling pay themselves huge bonuses even as they rely on extraordinary assistance to stay afloat,” the president said.Mr. Obama lauded Treasury’s decision to limit compensation for executives from firms that have not yet repaid the government.

The Obama administration on Thursday tried to make “pay czar” Kenneth Feinberg available for interviews to every member of the White House pool except Fox News. But the Washington bureau chiefs of the five TV networks decided that none of their reporters would interview Feinberg unless Fox News was included. (Excerpt) Read more at foxnews.com … ShareThis

The collected Washington bureau chiefs of the major broadcast networks rejected a White House attempt to keep Fox News from participating in pool reports.  Rather than cut Fox out of the pool, the broadcast bureau chiefs unanimously told the Obama administration that none of them would accept any interviews from administration officials.  That forced the White House into retreat:The Obama administration on Thursday failed in its attempt to manipulate other news networks into isolating and excluding

Fed Chairman Ben Bernanke urges Congress to enact reforms. Andrew Torgan CNN Financial News Producer Sales of previously-owned homes rebounded sharply last month to their highest level in two years, getting a strong boost from first-time homebuyers. Existing home sales jumped 9.4% in September after falling for the first time in four months in August, according to the National Association of Realtors. Year over year, sales were up 9.2% in September.

Chrysler Financial to shutter by 2011By Drew Johnson The United States Treasury Department has announced that Chrysler Financial will wind down its operation by the end of 2011. The former Chrysler financing arm has been struggling since Chrysler filed for bankruptcy on April 30.Once the preferred lending firm for Chrysler, Chrysler Financial was kicked to the curb earlier this year after President Obama’s auto task forced put GMAC in charge of Chrysler’s lending operations.

So, Kenneth Feinberg is ordering steep cuts in the compensation of various bank and financial executives.  Clearly there is no constitutional foundation for this incredible power grab by the White House. Mr. Feinberg, who apparently rejects the nickname of ” Pay Czar” but not the authority of the role will use this power regardless. He claims only the highest of motives. He is trying only to recoup the bail out money given to the banks already.  He is simply a steward of taxpayer funds.

Fox News reports on The Obama Administration’s failed in it’s anti-constitutional attempt to block Fox News from the press core. The Obama administration on Thursday failed in its attempt to manipulate other news networks into isolating and excluding Fox News, as Republicans on Capitol Hill stepped up their criticism of the hardball tactics employed by the White House. The Obama administration on Thursday tried to make “pay czar” Kenneth Feinberg available for interviews to every member of the White House pool except Fox News.

    huffingtonpost.com ,    The White House attempted to block Fox News from a round of interviews with “pay czar” Kenneth Feinberg Thursday, but the Washington bureau chiefs of the five TV networks included in the White House pool refused to interview Feinberg unless Fox News was included.

Some time ago, one of the Wife’s employees was out with a baby. The employee’s mother stepped in and worked part time until her return. The Wife had the woman sign a statement to that effect. The employee came back to work, but has since found another job. The Wife has just been made aware that the mother has filed and been granted unemployment benefits. The child was illegitimate and receives public assistance. Word to our government: If you persist in such villainy, the Wife will cease having any employees, whatsoever.

Chrysler Financial, following the directions of the U.S. Treasury Department, will wind down its business by the end of 2011, U.S. pay czar Kenneth Feinberg said. The lending company, which received $1. Full story… No tags for this post. Related Articles No related posts.

Via Foxnews.com and the AP The Obama administration on Thursday failed in its attempt to manipulate other news networks into isolating and excluding Fox News, as Republicans on Capitol Hill stepped up their criticism of the hardball tactics employed by the White House. The Obama administration on Thursday tried to make “pay czar” Kenneth Feinberg available for interviews to every member of the White House pool except Fox News.

It is nice to see that not all national media folks are completely in the tank for Obama. You know, to the point where they may be aiding him in an unConstitutional power grab. The Obama administration on Thursday failed in its attempt to manipulate other news networks into isolating and excluding Fox News, as Republicans on Capitol Hill stepped up their criticism of the hardball tactics employed by the White House.The Obama administration on Thursday tried to make “pay czar” Kenneth Feinberg available for interviews to every member of the White House pool except Fox News.

The United States Treasury Department said yesterday that Chrysler Financial is working to close down by the end of 2011. “Chrysler Financial is currently following Treasury’s directive to liquidate its business in an orderly fashion,” said Kenneth Feinberg, the U.S. Treasury’s czar overseeing pay for top executives at the seven firms that received large government bailouts. ”Chrysler Financial is currently pursuing a successful wind down of its operations by Dec.

The White House attempted to block Fox News from a round of interviews with “pay czar” Kenneth Feinberg Thursday, but the Washington bureau chiefs of the five TV networks included in the White House pool refused to interview Feinberg unless Fox News was included. Fox News says that the White House “failed in its attempt to manipulate other news networks into isolating and excluding Fox News.” The attempt to shut Fox News out was the latest move in the administration’s ongoing battle against the cable news channel, which several senior administration officials have claimed is not a legitimate news organization.

The Wall Street Journal is outraged at the temerity of the Obama Administration’s “pay czar”, Kenneth Feinberg’s, demands that bankers who have driven the institutions for which they had responsibility over the edge of insolvency not be rewarded for doing so: In the annals of what used to be known as American capitalism, yesterday will go down as a sorry day: The Treasury and Federal Reserve announced wage controls on private American companies.

Wow, the war between The White House and Fox News, which even has Democrats fretting since it’s so amazingly dumb, is bubbling over, and now even the non-Fox media is outraged. Apparently The White House, true to its attempt to marginalzie the network, denied it an interview with the Pay Czar Kenneth Feinberg, while giving one to other major networks. What the White House did not expect was that the other networks would defend Fox News, and demand that the White House play ball.

The thin skinned, baby & Chief … Obama has finally bitten off more than he can chew and has severely over played his hand. MSM slaps Obama White House hand and Obama WH backs down. What is this president going to do when the Press turns on him? Now this White House was going to ban a single News organization from an interview? To the LEFT, who knew hope and change meant Richard Nixon and an enemies list? What is wrong with this White House? How childish and small, let alone Unconstitutional could they possible be?

“The Obama administration on Thursday failed in its attempt to manipulate other news networks into isolating and excluding Fox News, as Republicans on Capitol Hill stepped up their criticism of the hardball tactics employed by the White House.  The Obama administration on Thursday tried to make “pay czar” Kenneth Feinberg available for interviews to every member of the White House pool except Fox News.

If you listened to Barack Obama on the subject of executive pay, he is of the belief that is high executive pay that leads to risky behavior by Wall Street companies. With this mindset, Obama, vis a vis his pay Czar, Kenneth Feinberg, has decided to slash executive pay for bailout companies (Click to See Full Story: “Washington to enforce executive pay cuts”). What Obama doesn’t seem to understand is how executive pay got to where it is.

Unless you don’t watch television news, I’m sure you’ve been keeping somewhat of an eye on the battle started by the White House against FOX News. The folks in the White House have suggested that FOX News isn’t a real news outlet and they’ve even begun to cut them out of interview opportunities. The New York Times ran an article on this struggle this morning which does a great job of covering what, exactly, the White House’s beef is and the FOX News response. There is a lot to write about this particular issue.

Look what Jake Tapper started. When ABC’s White House correspondent Tapper questioned press secretary Robert Gibbs over the administration’s tactic of attacking Fox News, Gibbs avoided much of an answer. But yesterday’s round-robin pool interviews of new executive pay czar Kenneth Feinberg saw the White House trying to ostracize Fox News again – and their partners in the pool taking a stand, again.

A few months ago, I posted an interview with the Treasury’s “special master for compensation” Kenneth Feinberg, saying how impressed I was at how intelligently he approached his task. NPR has another interview with him , in which he discusses his settlement with TARP recipients over their compensation plans. In particular, Feinberg’s plan to limit cash compensation and require most bonuses to be paid in stocks is a good way to turn bankers’ focus to long-term gains.

As if we needed any proof of the fact that arbitrarily cutting salaries drives away top people. It turns out that a quarter of the execs targeted by our new Pay Czar Kenneth Feinberg jumped ship before their pay cuts were even finalized. At some firms, it was even worse, with almost half the top people bailing. Where did they go? To their old firms’ competitors of course where they can command market rates for their work.

Yesterday, Kenneth Feinberg, the U.S.’s new Pay Czar, announced that the cash compensation of top level execs at banks the received bailout money would be cut by up to 90%.  Total compensation would be decreased by about 50%. My first thought was to wonder how anyone could live on 10% of their previous salary. I sure couldn’t.  Granted, I know that 10% of a multi-million dollar salary is a lot of money.  But these execs probably have mortgages in the thousands of dollars per month, too.  And to suddenly cut their salaries by 90% might just send them into bankruptcy.

I am going to compile stories from NewsBusters.org about the recent attacks to and from the media. I know, my readers, again, I have not been blogging for a while; I’m trying to get us set up here on the mountain for the winter. Ya know hauling food, ect… Sorry. I am in Chipmunk/Squirrel mode. He, He, He. Soooo let’s begin.

Spare me the crocodile tears from those poor business executives who will have to get by on just $10 million a year. Obama pay czar Kenneth Feinberg’s action affect only 175 executives — 25 people at each of the seven companies bailed out by taxpayers who would be lucky to earn that much in a lifetime or two. There’s an argument to be made that the crackdown is really nothing more than a symbolic sop to Main Street America outraged by the bad behavior on Wall Street that has the unemployment rate around 10 percent.

Kenneth Feinberg, President Obama’s compensation czar for bailed out banks, appears to have taken some genuine steps to rein in excessive executive compensation at the basket case banks that received the most TARP money. He cut cash salaries by 90 percent in some cases and reduced overall compensation for the top executives at the seven institutions that received the most government money. This is a good first step, but it is only a first step.