Dunn Lambert, LLC
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Comprehensive legal services for businesses in New Jersey and New York call 201-957-0874
Dunn Lambert, LLC
comprehensive legal services for businesses call 201-957-0874

Posts tagged "Kenneth Feinberg"

Feinberg Says Businesses Did Not Break Law With Payouts

The Wall Street Journal reports today that Kenneth Feinberg, the U.S. "pay czar," has announced that the 17 financial firms that he investigated as the Obama administration's special master for compensation used poor judgment but did not break any laws when they gave out excessive payouts in late 2008 and early 2009. The companies gave the payouts at the height of the financial crises, even while they were receiving taxpayer assistance. In 2009, lawmakers created executive-compensation restrictions to prevent future payouts like the ones given by the firms studied by Feinberg and deemed excessive and "ill-advised" by him, such as individual payouts exceeding $10 million.

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