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WASHINGTON -- The U.S. pay czar, now preparing to vet the compensation at businesses receiving major federal aid, will push to renegotiate contracts that he views as excessive or seek other ways to reduce overall outlays, said people familiar with the matter.
The role of the government in setting pay is reaching a pivotal moment. Seven banks and industrial companies that received significant bailouts must submit proposals for their compensation packages by Aug. 13.: Citigroup Inc., Bank of A
Treasury Department official Kenneth Feinberg, who has authority to oversee pay for the 100 highest-paid employees at those companies.
None of the firms have yet submitted their proposed pay packages. GMAC has proposed to Mr. Feinberg that it be able to pay its top people a mix of 20% cash and 80% stock
Originally posted by jjkenobi
He should start with Hollywood and all pro athletes.
I just want to see the looks on all the Obama supporters faces when they get a note saying that Uncle Sam has deemed that you are getting paid too much.
It amazes me how people on left claim they want freedom, but support fascism.
Originally posted by xmotex
This is not "fascism" except by the most ridiculous stretch of the imagination.