White House Pay Czar Expands Oversight

Kenneth Feinberg, the Obama administration’s ‘pay czar’, has been tapped by the President to further reduce expenditures by bailed-out executives of companies who benefitted from TARP funds.

Speaking behind a bullet-proof partition in the Treasury Department lobby Feinberg said, “The President has asked me to reduce the excessive compensation of those who are still on the Federal dole,” said Feinberg.  “I have already arranged for pay cuts as high as 90%, but am pleased to announce these further measures.  Starting immediately, all executives from companies still on the TARP list will obey the following directives.” 

Feinberg’s bodyguards passed out copies to reporters, and then following standard administration protocol, all present in the room were blindfolded as the czar made his exit.

The new measures prohibit such expenses as hair coloring, tipping caddies more than five dollars, use of “call” liquor during dinner meetings, anything other than plain coffee at Starbucks, premium dog food, use of shoe shine parlors in airports (except on overseas flights) and more than one hot dog per sporting event. 

Reaction from the companies was swift and strong.  “We disagree strongly with Mr. Feinberg’s directives,” replied GM executive Charles Farley.  “Why, I haven’t worn a clip-on tie since I was in the 6th grade.”

Feinberg is widely expected to drop “therapeutic Botox injections” from the list after disclosures of plastic surgery were reported by James O’Keefe and  Hannah Giles.

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Published in: on October 22, 2009 at 9:25 AM  Leave a Comment  

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