Obama’s Pay Czar Is A “Paid” Man

Obama’s Pay Czar Is A “Paid” Man
August 29th, 2009

In early June President Barack Obama appointed Kenneth Fienberg to act as the pay czar for the Treasury Department and essentially policing Wall Street Compensation. Fienberg is probably most known for overseeing the government’s compensation funds for victims of September 11th. However, many American may not be aware that Feinberg is no stranger to receiving huge executive payouts.

Feinberg, who is working as the pay czar for free, took home $5.76 million in 2008 as a partner at this Washington based law firm, Feinberg Rozen LLP, according to reports.

His assets are estimated to be worth upward of $37 million, which includes two homes, a plethora of investments and his stake in the law firm. Both his homes are worth north of $1.5 million, one in Bethesda, Maryland and the other on Martha’s Vineyard.

Feinberg received chunks of money from several different sources last year. $32,000 in income was received from his interest in Strategic Settlement Advisors, a claims settlement company located in the Washington area.

He received a total of $53,000 from eight different law schools, which included Georgetown University and UCLA.

Many Wall Street analysts believe that his high level of success matched by his equally high level of compensation will garner him more respect from Wall Street executives, as he is accustomed to a similar lifestyle attained by his accomplishments.

Feinberg’s first task is to review proposed compensation plans from the seven U.S. banks still taking part in the Troubled Asset Relief Program (TARP). The banks have to submit plans for their top 25 highest paid employees. Some of the institutions submitting proposals are American International Group (NYSE: AIG), Citigroup (NYSE: C) and Bank of America (NYSE: BAC).

There is also an interesting question of conflict of interest. Three of the firms submitting proposals to him are clients of his law firm. However, in legal filings Feinberg was listed as a court appointed neutral mediator and did not represent the firms in any way.

Fienberg does his own personal banking with Bank of America, Wells Fargo’s Wachovia and UBS. He also serves on the boards of the John F. Kennedy Library Foundation and Human Rights First.
americanbankingnews.com

Views: 63

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

TOP CONTENT THIS WEEK

Latest Activity

James Roberts commented on Diana's photo
Thumbnail

John Podesta Helped Tulsi Win Hawaii

"In 2012, maybe she wasn't famous for calling out the elite warmongers. Or maybe they thought…"
1 minute ago
James Roberts commented on Diana's photo
Thumbnail

Two Sexes, Many Genders

"If homosexuals are truly different, why do they take up traditional gender roles in their…"
3 minutes ago
James Roberts favorited Diana's photo
4 minutes ago
James Roberts commented on Diana's photo
Thumbnail

Huxley

"Not the final one. The final revolution will be tech that allows people total conscious control…"
5 minutes ago
James Roberts favorited Diana's photo
6 minutes ago
James Roberts commented on Diana's photo
Thumbnail

gay_crusade

"Three years from now, they'll be forcing kindergarteners to watch scat porn and bestiality,…"
7 minutes ago
James Roberts favorited Diana's photo
8 minutes ago
James Roberts commented on Diana's photo
Thumbnail

romney-pierre-delecto-secret-twitter-account

"Made his money by buying companies, laying off employees, and selling all the assets."
8 minutes ago
James Roberts favorited Diana's photo
9 minutes ago
James Roberts favorited Diana's photo
9 minutes ago
James Roberts favorited Diana's photo
11 minutes ago
James Roberts favorited Diana's photo
12 minutes ago
James Roberts favorited Diana's photo
13 minutes ago
James Roberts favorited Diana's photo
13 minutes ago
James Roberts commented on rlionhearted_3's photo
Thumbnail

Gotta Be Sobering

"They ain't seen nuthin yet."
14 minutes ago
James Roberts favorited rlionhearted_3's photo
14 minutes ago

© 2019   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted