Truth to Power

What? Quit overpaying the scum that robbed us blind? Why do you

Feinberg ‘Concerned’ Pay Cuts Could Drive Out Talent

Kenneth Feinberg, the Obama administration’s special master for executive compensation, said

he is “very concerned” about the possibility his pay cuts may drive talent away from companies bailed out by U.S. taxpayers.

“I’m very cognizant of the concerns expressed by these companies,” Feinberg said today in Washington at an event held by Bloomberg Ventures, a unit of Bloomberg LP, parent of Bloomberg News. “The law makes it clear that the determinations I render are designed, first and foremost, to make sure those

companies thrive and that the taxpayers get their money back.”

Feinberg has ordered pay cuts averaging 50 percent for the top 25 executives at Citigroup Inc., Bank of America Corp., American International Group Inc. and four other companies that

took U.S. bailout money. He will rule on pay structures covering the next 75 highest-paid employees at those firms by year-end.</em>

Drive out “talent”? What fucking talent? The talent to sell crap derivatives, shitty mortgages and 35 to 1 leveraged piggy banks? The only talent these clowns had was recognizing their inner greedhead and running amok with it.

Screw ‘em. You should be digging ditches or swabbing toilets until your manicured nails rot from the chemicals simply to atone for what your ilk did to this country, you ungrateful bastards.

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