Hey, maybe someone should “claw back” Pay Czar’s big pay!
My column last week on Pay Czar Kenneth Feinberg spotlighted his declaration of authority to retroactively “claw back” CEO compensation packages offered by TARP recipients that he deemed “excessive.”
Reuters reports today that His Highness the Special Master of Compensation himself has raked in some hefty compensation packages:
The “pay czar” tasked by the U.S. government with ruling on the eye-popping compensation of some of Wall Street’s top earners is far from a stranger to big paychecks and the trappings of wealth.
Kenneth Feinberg made $5.76 million last year as a partner in his Washington law firm, Feinberg Rozen LLP, according to a government ethics filing obtained by Reuters.
And his assets, which include a stake in his law firm, two homes and dozens of investments, are worth anywhere from $11 million to $37 million, according to the filing, which places assets in broad value categories.
His homes are a $1.66 million house in Bethesda, Maryland, near Washington, and a $1.96 million vacation home in West Tisbury, Massachusetts, on Martha’s Vineyard.
The article quotes experts who express hopes that Feinberg might be more sympathetic to high income-earners since he has enjoyed considerable income himself.
Nah. All depends on which cronies’ crostinis are being buttered.
Feinberg’s new filings also reveal potential conflicts of interest and — surprise — massive campaign contributions to the Special Master’s Democrat Masters:
A one-time chief of staff to U.S. Senator Edward Kennedy, who died Tuesday, Feinberg is also active politically, making more than $300,000 in campaign contributions since 1990, mostly to Democrats, according to the Center for Responsive Politics. The recipients include Barack Obama, Hillary Clinton and Christopher Dodd, chairman of the Senate Banking Committee.
Birds of a feather…
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Categories: czars
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Hypocrites.
Yeah, I think a Culture of Corruption” magazine is what this Country needs.
The new corruption cases are appearing almost hourly now.
Why does that sound like a wish as futile as hoping that Timmy Geithner and Cholly Rangel will “go easy” on the American taxpayer?
Spread the wealth around.
Nothing but a humongous power grab by blt-totus & co.
And that’s just what we can FIND.
How many more are very well hidden, like totus’s past?
All of this “Czar” business really is Soviet.
The giving of power to unelected, unaccountable people is a standard part of the Soviet practice of Ideological Subversion.
We would do well to heed the warnings given 26 years ago by Soviet defector Yuri Bezmenov. Look up his videos on YouTube. Here are some of them. I can’t verify that link right now, but if it doesn’t work for any reason, search on his name and you will find other videos.
Once you understand the process of Ideological Subversion that the Soviets have used in countries around the world, you will understand that Obama is following this process to a “T”.
Yeah, I’m into that big money myself.
I bought a Toyota Camry with my windfall profits from my only certificate of deposit. My house is worth a whopping 350k (In CA. It has been re-assessed twice, down. Thanks socialists.) I send my kids to the most expensive private schools – their names begin with “The City of” and end with “School District.”
I rolling in so much money; when I can afford to buy groceries, I just can’t make up my mind. Paper, or plastic?
/sarc
Well, my daddy used to tell me to hope in one hand, and crap in the other one, and see which one fills up first.
You know the laws only apply to other people. Members of the Communist Party are exempt.
txvet2; exactly! the politburo sets the rules for the peasants. they live by one rule, what’s good for me is good!.
Jesus said it better than I ever could.
It’s like the kid who has the ice cream and sings that you can’t haaave nooone.
I’m sure those large contributions to Democrats had nothing to do with Feinberg’s Czar appointment. And even if it turns out that all the Czars have given heavy campaign contributions to Democrats, it’s pure coincidence.
Obama pledged that his election would be the end of politics as usual and the beginning of a “new era of responsibility”. So I can assure you that political favoritism had no role in selecting any of the Czars. As Janet Napolitano would say, “there was no kind of political issues involved there.” /sarc off
Is he a trial lawyer?
From F. A. Hayek 1944 – Page 120 – The Road To Serfdom
Text and Documents – The Definitive Edition
Edited by Bruce Caldwell 2007
There is also a Footnote to this page relating to infringements of The Rule of Law, particularly by Facists.
This could lead me to think that Czars are counter to The Rule of Law.
f$%k together. I know, Iknow, I have no future as a poet…
Why more than a half dozen things this admin has put into place has not been challenged as to it’s constitutionality leaves me needing more aspirin.
Ooh! Ooh! Pick me! I know the answer to this!
Tigerlady is right, hypocrites.
I’m waiting for the Obama administration to announce ONE shovel-ready project was finished on Saturday: Ted Kennedy.
And it was televised, too. Too late to “claw” back any money he’d stuffed away.
Is it too soon to laugh out loud?
TigerLady, it is NOT too soon to laugh out loud, but don’t forget to tip the waitress on the way out. Thankyouverymuch.
Thanks Bradley, I will have a hearty laugh now!!
On August 28th, 2009 at 3:41 pm, walterc said:
Yeah, I think a Culture of Corruption” magazine is what this Country needs.
The new corruption cases are appearing almost hourly now.
I’d be curious to see anti-big salary liberals defend this.
Why is this OKAY for government officials, but not okay for people who often become executives or CEOs after years, decades, of hard work?
Hypocrites is too kind a word.