Tuesday, March 30, 2010

Pay Czar

The United States now have many Czars appointed by its new administration. One of these is pay czar Kenneth Feinberg.

One thing Mr. Fienberg says is that he looks to see if compensation practices are ‘inconsistent with the public interest’.

He then says, “Now what that will mean, I'm not sure.

A commenter saw alarm with that statement which lacks any firm guiding principle. The comment writer says, “Holy buckets, is this a horrible process! Anyone remember the rule of law?
Congress passes a sentiment
compensation should be consistent 'with the public interest' and we'll operationalize it later? In the judgment of a pay czar and whomever he elects to consult with?
We live in a precedent-based system of law. If you ever have a government bureaucrat nosing around to see if your pay is ‘inconsistent with the public interest’, remember this day.

Full Story >> http://marketplace.publicradio.org/display/web/2010/03/23/pm-ceo-pay-q/

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