Posted by Randy Barnett:
A New "Special Master" is Named:
http://volokh.com/archives/archive_2009_06_07-2009_06_13.shtml#1244654636
From [1]The Financial Times:
President Barack Obama is due to unveil a raft of executive
compensation reforms as early as Wednesday that will see the pay of
the top 100 employees of bailed-out companies vetted by a new
official.
A new Special Master, expected to be Kenneth Feinberg, the former
head of the 9/11 compensation fund, will have the power to reject
pay plans from companies receiving �exceptional assistance� from
the government, according to an administration official.
[2]USA Today describes the special powers of the special master:
Treasury Secretary Timothy Geithner is about to hold a press
conference where he'll announce how the new regulations will work.
Here are the guidelines:
1. The Special Master will have the power to reject plans from
companies with exceptional assistance that he deems to have
excessive or inappropriate salary.
2. The Special Master will review the compensation structures for
the top 100 salaried employees.
Does anyone else think it appropriate that Feinberg's title will be
"special master"? Maybe this is striking me significant because, for
the past few days, I have been immersed in antislavery writings about
the Constitution.
References
1. http://www.ft.com/cms/s/0/c8ffffee-55cc-11de-ab7e-00144feabdc0.html
2. http://content.usatoday.com/communities/theoval/post/2009/06/67939111/1
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