NO! You're kidding!
Pay czar failed to curb excessive bank pay, report says | Seattle Times Newspaper
Quote:
A watchdog says private executives and Treasury officials pressured a top government official to allow seven banks and businesses to bypass pay restrictions established in the $700 billion bailout.
Pay czar Kenneth Feinberg approved salaries for five executives in excess of the $500,000 limit, according to a report Tuesday issued by the deputy special inspector general for the bailout fund said.
Feinberg also approved pay packages, which included stock and other forms of compensation, worth $5 million or more for 49 executives, the report says.
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Under pressure from Turbo Tax Timmy, obama's uniquely qualified Treasury Secretary (who won't be invited back).
The whole TARP business, done behind closed doors, secret deals, non-transparent, is a MESS.
Never again.
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