has new news on what the pay czar is up to – deciding whether or not banks that took bailout funds should be required to force employees to return some of their bonuses.
Government officials told the WSJ that the pay czar, Kenneth Feinberg, will review compensation at all 417 firms that took government bailout funds, including Goldman Sachs, JPMorgan, and Morgan Stanley.
He’ll decide whether any compensation that was paid during the 2008 bonus season should be returned or not.
AIG was told last year they had to return $45 million in bonus pay last year.
Still, Feinberg has been pretty wussy so far. If you’re looking for retribution, we wouldn’t hold your breath.