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  • Kenneth Feinberg

    Louisiana Losing Patience With BP, Government on Oil Spill Claims

    BATON ROUGE, LA — BP has yet to make a single payment from the highly publicized $20 billion claims fund negotiated by President Obama last month at the White House. The fund, which Obama hailed as a breakthrough, is supposed to provide $5 billion by the end of the year … More

    A Brand of "Independence" Only Obama Could Love

    President Barack Obama promised in his Oval Office speech that an “independent third party” would be responsible for overseeing the distribution of $20 billion in funds set-aside to compensate those harmed by the BP oil spill disaster. Apparently, though, “independence” is all in the eye of the beholder. When that … More

    Should Pay Be Political?

    Bloomberg news has an article on Wall Street pay revealing that the CEOs of many large banks have taken big pay cuts in the past year or two (CEO pay at the 50 largest financial firms has fallen 37% in the past two years). Buried in the story was a … More

    Morning Bell: The Unaccountable Obama Czar State

    Yesterday the United States Department of the Treasury Special Master of Compensation Kenneth Feinberg announced a wage control scheme for the 175 executives of the seven companies that have received the most funds from the taxpayer funded Troubled Asset Relief Program (TARP). At first the Obama administration denied any involvement … More

    Obama Pay Czar Driving Execs to Go Galt?

    At Marginal Revolution George Mason University economics professor Alex Tabarrok comments on Obama administration’s pay czar Kenneth Feinberg’s decision to cut bailed out firm executive pay by an average of about 90 percent from last year: There is no way this will work as advertised. If the administration actually follows … More