Word: czars
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...Obama and Geithner have a long list of penalties they can impose if the banks don't do a better job of lending to small businesses or modifying home loans. And Obama's pay czar, Kenneth Feinberg, could target the bank's bonuses with what the senior bank executive calls a "crazy" pay restriction like the one Britain passed last week. But the banks are expert at staying just on the right side of the Administration's guidelines for lending, and they have many friends on the Hill who can help defuse a movement to punish the banks. Which...
Five-Star Czar...
...down and cursed her. Privately she admitted she was shocked by the hatred. The trip to South Asia seemed a bit of a vacation - it was Chelsea's spring break - but also a retreat to a more demure, First Lady-like role after two years as health care policy czar, although it proceeded in a decidedly wonky, Hillarian fashion. Jackie Kennedy had gone to India and famously ridden an elephant; Hillary Clinton traveled to five countries and packed her schedule with visits to NGOs...
...task may be even more complex. Feinberg's mid-October report reassessed not only what the top 25 executives of each of the seven firms that received the most government assistance should be paid but also how. Unlike his job with the 9/11 fund, Feinberg's position as pay czar is not one that inspires sympathy. Some think his meddling has made the firms over which he has sway less competitive. Others say he didn't cut enough. But as Wall Street prepares to hand out eye-popping year-end bonuses, the larger question is this: Just how much does...
...true in the case of hedge funds or leveraged-buyout - which call themselves private-equity (PE) - firms or some parts of stricken outfits like AIG, Citi and the former Merrill Lynch, now part of Bank of America. But hedgies and PEs aren't covered by pay czar Ken Feinberg's ukases...