Sean King

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Knoxville, Tennessee, United States

Thursday, October 22, 2009

How is This Not Fascist?

Bloomberg.com: Feinberg, in findings issued today, allowed salaries of more than $1 million for three of 175 positions under his supervision. American International Group Inc. Chief Executive Officer Robert Benmosche and two employees of Chrysler Financial Corp. are the only executives to get more than $1 million, the Treasury Department said in a statement today.

Feinberg rejected the cash bonus that was to be paid to Andrew Hall, CEO of Citigroup’s Phibro LLC energy-trading unit, according to the statement. Citigroup on Oct. 9 agreed to sell Phibro to avoid a potential showdown with Feinberg over Hall’s $100 million pay package. Bank of America Chief Executive Officer Kenneth Lewis, at Feinberg’s urging, agreed last week to give up his 2009 salary and bonus.

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