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politico.com - 10/22/2009

W.H.: Pay czar decided on his own

— politico.com — Move to slash corporate pay will go down in history.... (more) W.H.: Pay czar decided on his own

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nytimes.com - 10/22/2009

Bank of America and Citigroup Must Adapt to New Pay Rules

— nytimes.com — In the whirl of the financial crisis, Bank of America and Citigroup stood out for being among... the most troubled banks in the industry. Now, they will stand apart. The Obama administration’s plans to slash pay at heavily bailed-out firms force them to ... (more) Bank of America and Citigroup Must Adapt to New Pay Rules

Bank of America

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powerlineblog.com - 10/18/2009

"Pay Czar?!"

— powerlineblog.com — Today the Obama administration's "pay czar" demanded that Ken Lewis , Chairman of the Board of Bank... of America, work for free. The "czar," Kenneth Feinberg, pressured Lewis not only to forgo all remaining compensation for 2009, but to repay the $1 ... (more) "Pay Czar?!"

White House

Bank of America

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Czar Blocks Bank Of America Chief's Pay
Democratic Underground Latest Breaking News — ... master for compensation, suggested that Lewis should get no pay for the year and Lewis agreed, Bank of America spokesman Robert Stickler said Thursday. In fact, Lewis will pay back about $1 million he has received so far out of a $1.5 million annual salary. "He will write a check to the company," Stickler said. The bank spokesman also added that Lewis agreed to the proposal because he felt it was not in the bank's best interest "to get into a dispute with the paymaster." Read more: http://www.huffingtonpost.com/2009/10/15/czar-blocks-ba...