Re­port: U.S. ex­ec­u­tive pay czar to lam­baste banks for bonuses

Austin American-Statesman - - BUSINESS & PERSONAL FINANCE -

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.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.