Mover Mike

According to INO.com Obama’s pay czar, Kenneth Feinberg, “…said Friday that he did not try to recoup $1.6 billion in lavish compensation to top executives at bailed-out banks because he wanted to protect the banks from possible lawsuits.” The 17 banks receiving taxpayer money from the $700 billion financial bailout made “ill-advised” payments to their executives to the tune of $1.6 billion.

Two of the companies involved were AIG and CIT Group.

Rather than demanding they return the money, Feinberg invited the 17 banks to give their boards of directors more power to withhold pay during future crises. The request was voluntary.

That invitation has less persuasion than a warning from the woman who lived in a shoe, “Better not do that Sally!”

Tags: Government, Government Spending //
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