Report: U.S. executive pay czar to lambaste banks for bonuses
The Treasury Department’s pay czar is preparing to criticize the judgment of Wall Street banks that continued to pay their executives lavishly after receiving taxpayer bailouts, according to two government officials with knowledge of his findings.
Kenneth Feinberg today will disclose a list of banks that paid out a total of $1.58 billion in bonuses that he has determined were inappropriate. Feinberg can’t force the banks to return the bonus money. Most of the banks on the list have already repaid the government.