Kenneth Feinberg has his work cut out for him. The Special Master for Troubled Asset Relief Program (TARP) Executive Compensation told the general press on Monday that he and his staff were reviewing the 2010 pay packages for the top 25 officials at each of the seven firms, including American International Group (AIG), that took TARP funds.
But Feinberg also has TARP fund recovery considerations, and like the pay packages, say experts, recovery mandates will affect shareholders. The Wall Street Journal reports that TARP recovery actions represent difficulty for policymakers trying to encourage financial markets, while acknowledging that the taxpayer still holds a significant stake in certain firms. “Feinberg said he was ‘acting as surrogates for the taxpayers as creditors,’ and will continue to do so,” reports the Journal.
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