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...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 it matter what people are paid? "Where is the empirical evidence that by doing what Feinberg is doing, we'll solve the problems that caused the financial crisis?" asks Ohio State...
...others? Feinberg asked each company to submit pay proposals for their top 25 executives. Officials at six of the seven asked him to approve base-salary raises for their top guns. He was stunned. "What I learned in this job already is that the gap between what Wall Street thinks is a reasonable paycheck and what Main Street thinks these officials should get is not a gap. It's a chasm," he says...
...pictures of TIME's Wall Street covers...
...Their aggressive ways are out of step with a new generation of business leadership who are looking for more cooperative relationship with Washington, trying to be problem solvers instead of nay-saying, being a brick wall to government action," argues Hilary Rosen, a partner at the Brunswick Group, a communications firm, who served as Chairman and CEO of the trade organization the Recording Industry Association of America from 1998-2003. "In leadership positions, you see a wave and you want to get on board to help shape it and instead I think he is looking at a wave...
...President Obama's Secretary of the Army - downright weird. What's making it weird - at least from the perspective of many of my former neighbors and colleagues - is all the attention that's being focused on an area that is usually perceived by outsiders as merely remote. (The Wall Street Journal recently described the 23rd as a "part of New York so far north, it actually abuts Canada." Actually!) (See pictures of Republican memorabilia...