Sunday, September 12, 2010

Obama Watch: 'Unpaid pay czar' got 6-figure salary. Uncovered Treasury documents reveal 'pro bono' reports were false.

Contrary to press reports that he would not be compensated, uncovered Treasury Department documents reveal President Obama's pay czar, Kenneth Feinberg, received a $120,830 annual salary.

The documents were obtained by the public interest group Judicial Watch in a Freedom of Information Act request filed July 20.

Feinberg served as "special master for TARP executive compensation" to establish executive compensation levels at companies bailed out by the federal government.

When Obama appointed Feinberg in August 2009, media reported the Washington lawyer would perform his duties "pro bono," or without pay.

Feinberg is founder and managing partner of the Washington, D.C., firm Feinberg Rozen LLP.

Judicial Watch noted Reuters reported at the time that Feinberg "is receiving no compensation for his role."

But Judicial Watch said it obtained the Treasury Department's June 8, 2009, welcome letter to Feinberg congratulating him for being selected "special master of executive compensation" and listing his annual salary at $120,830. READ MORE...

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