Pay Czar Kenneth Feinberg is ordering firms that received government bailouts to “slash compensation to their highest-paid employees.” One bank executive complained that the compensation restrictions “were clearly much worse than what had been anticipated.” Hey - read the small print - The plan would have no direct impact on firms that did not receive government bailouts or that have already repaid loans they received from Washington. One of those firms that has repaid their loans is Goldman Sachs, who pirated $12.9 billion of taxpayer money courtesy of former Goldman Sachs CEO and former Treasury Secretary, Hank Paulson. The plan would also still allow executives like Kenneth D. Lewis, the head of Bank of America, to reap multimillion-dollar pay packages. For example, Lewis is till getting a pension of $53.2 million. We need to stop playing games and roll back the Reagan tax cuts.
In Strange News...How would you like to be a reefer reviewer? If you don't mind visiting stores with Grateful Dead posters on the wall and the Mexican-blanket tablecloths, a Denver alternative newspaper recently posted an ad for what some consider "a highly" rated job in journalism — a reviewer of the state's marijuana dispensaries and their products. Sounds better than working for AT&T!