Treasury Secretary Tim Geithner discusses in this clip what the government proposes on compensation rules. He says the administration is proposing new SEC authority on exec pay as golden parachutes and retirement packages rules get reexamined. Geithner also said Treasury will lay out comp restrictions on TARP firms relatively soon.
The NYT reports the Obama administration on Wednesday appointed Kenneth R. Feinberg, a well-known Washington lawyer, as a compensation overseer with broad discretion to set the pay for 175 top execs at seven of the nation’s largest companies, which have received hundreds of billions of dollars in federal assistance to survive.
