Obama Set to Appoint Pay Czar

[JBond]

Obama Set to Appoint Pay Czar

http://www.foxnews.com/politics/elec...oint-pay-czar/

WASHINGTON -- The Obama administration plans to appoint a "Special Master for Compensation" to ensure that companies receiving federal bailout funds are abiding by executive-pay guidelines, according to people familiar with the matter.

The administration is expected to name Kenneth Feinberg, who oversaw the federal government's compensation fund for victims of the Sept. 11, 2001, terrorist attacks, to act as a pay czar for the Treasury Department, these people said.

Feinberg's appointment could be announced as early as next week, when the administration is expected to release executive-compensation guidelines for firms receiving aid from the $700 billion Troubled Asset Relief Program. Those companies, which include banks, insurers and auto makers, are subject to a host of compensation restrictions imposed by the Bush and Obama administrations and by Congress.

Wall Street has been anxiously awaiting more details on how the rules will be applied. "The law is confusing and a bit ambiguous, and so we're looking for certainty as to how to structure pay incentives," said Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable, a trade association.

The move comes amid a series of sometimes-overlapping efforts to curb pay at financial firms following perceived industry excesses that led to the lending boom and bust.

The Obama administration earlier this year issued guidelines that include limiting salary for top executives at some firms receiving TARP funds and requiring that additional pay be in the form of restricted stock, vesting only after the company repays its debt, with interest, to the government. Congress then chimed in with even tougher rules curbing bonuses for top earners at firms receiving TARP money. As part of that effort, lawmakers barred those firms from paying top earners bonuses that equal more than a third of their total compensation.

The White House has been wrestling with how to marry those two efforts, which in combination are more punitive than administration officials had intended.

[Doomsday101]

Seems we have Czars all over the place, is the Obama Administration hinting at something?

[ABQCOWBOY]

Originally Posted by Doomsday101

Seems we have Czars all over the place, is the Obama Administration hinting at something?

I wonder why we don't call them Fuhrers? I mean, why Czars and not Fuhrers?

Heard that this morning and found it mildly amusing.

[Doomsday101]

Originally Posted by ABQCOWBOY

I wonder why we don't call them Fuhrers? I mean, why Czars and not Fuhrers?

Heard that this morning and found it mildly amusing.

Well he has changed the words for terrorist to violent extremist I would figure he would want to change the term czar

[MetalHead]

I got a question.
When the White House carpet is dirty,do they call the cleaning crew,or does this administration has a Carpet Cleaning Czar?

[canters]

Just another power grab by this guy. He wants total power whenever he can get it.

[sbark]

Robert Byrd, the longest serving senator in history, criticized President Obama's appointment of numerous White House advisors, also called "czars," saying the presence of the czars gives the president too much power.

These czars report directly to Mr. Obama and have the power to shape national policy on their subject area. So far, Mr. Obama has recruited czars on health reform, urban affairs policy, and energy and climate change. Unlike Cabinet secretaries, they do not have to be approved by Congress.

In a letter to Obama on Wednesday, Byrd, a Democrat, said that the czar system "can threaten the Constitutional system of checks and balances," Politico reported. Byrd added that oversight of federal agencies is the responsibility of officials approved by the Senate.

[sbark]

Robert Byrd, the longest serving senator in history, criticized President Obama's appointment of numerous White House advisors, also called "czars," saying the presence of the czars gives the president too much power.

These czars report directly to Mr. Obama and have the power to shape national policy on their subject area. So far, Mr. Obama has recruited czars on health reform, urban affairs policy, and energy and climate change. Unlike Cabinet secretaries, they do not have to be approved by Congress.

In a letter to Obama on Wednesday, Byrd, a Democrat, said that the czar system "can threaten the Constitutional system of checks and balances," Politico reported. Byrd added that oversight of federal agencies is the responsibility of officials approved by the Senate.

.......in other words....is just another casual circumvention of the USA Constitution that everyone will get used to............

[ScipioCowboy]

Unquestionably, the notion of czars is problematic. However, before we criticize Obama for these appointments, we should compare his use of czars to that of previous administrations.

Is Obama truly doing anything that is unprecedented?

[DIAF]

Originally Posted by ScipioCowboy

Unquestionably, the notion of czars is problematic. However, before we criticize Obama for these appointments, we should compare his use of czars to that of previous administrations.

Is Obama truly doing anything that is unprecedented?

Probably not. Im sure any sort of Presidential "task force" from the past had a similar head.

I'm not sure I trust Obama 100% with anything, but I damn sure trust him more than this Congress and have no problem with a "Czar" removing them from the equation. Having worked in a Federal Agency before, I can tell you that it takes nearly an act of God for anything to go anywhere. Congress is just mad because they smell money and don't like it when they aren't 100% in control of the pursestrings.

[ShiningStar]

Originally Posted by DIAF

Probably not. Im sure any sort of Presidential "task force" from the past had a similar head.

I'm not sure I trust Obama 100% with anything, but I damn sure trust him more than this Congress and have no problem with a "Czar" removing them from the equation. Having worked in a Federal Agency before, I can tell you that it takes nearly an act of God for anything to go anywhere. Congress is just mad because they smell money and don't like it when they aren't 100% in control of the pursestrings.

So you are all for replacing incompetence with more incompetence? Great, big help here. Who says the Czars, 1) Have clue 1, 2) are more efficient and 3) are going to get the job done right?

Who checks these people if they do wrong?

[DIAF]

Originally Posted by ShiningStar

So you are all for replacing incompetence with more incompetence? Great, big help here. Who says the Czars, 1) Have clue 1, 2) are more efficient and 3) are going to get the job done right?

Who checks these people if they do wrong?

Certainly not Congress, that's for damn sure. Who checks them? The voters? We just keep voting the same 'tards in, no matter what, year after year.

Look, I'm sure nobody here cried when Republican presidents appointed special advisers that helped shaped policy, let's not do it now because you despise the current President. Obviously, you don't want your appointees to be incompetent, but you don't really know that until they are on the job. You can't go back in time and redo the election. Obama is here, and we've all got to live with it. Best we can do is hope he does at least a few things right.

[ShiningStar]

Originally Posted by DIAF

Certainly not Congress, that's for damn sure. Who checks them? The voters? We just keep voting the same 'tards in, no matter what, year after year.

Look, I'm sure nobody here cried when Republican presidents appointed special advisers that helped shaped policy, let's not do it now because you despise the current President. Obviously, you don't want your appointees to be incompetent, but you don't really know that until they are on the job. You can't go back in time and redo the election. Obama is here, and we've all got to live with it. Best we can do is hope he does at least a few things right.

Listen, i didnt like it with Bush, but even you cant deny we got more Czars than Russia, okay, so dont pick the attitude with that, its not going to work. Incompetent people are incompetent people, why do you think the Head of the CIA was put there, he had no problem with Pelosi calling them out did he? Did he attack her, noooooo. He doesnt belong there plain and simple. Neither do the other Czars, really Napalitano, Border Czar. Come on, the border can be taken care of anytime, you know it I know it.

Stop with the excuses, Obama is on a power trip, you cant see it, thats fine, I dont expect you to. Dont go around saying people are hating on him cause we're not, again, its his policies of socialism and power hungry that are scaring people.

[DIAF]

Originally Posted by ShiningStar

Listen, i didnt like it with Bush, but even you cant deny we got more Czars than Russia, okay, so dont pick the attitude with that, its not going to work. Incompetent people are incompetent people, why do you think the Head of the CIA was put there, he had no problem with Pelosi calling them out did he? Did he attack her, noooooo. He doesnt belong there plain and simple. Neither do the other Czars, really Napalitano, Border Czar. Come on, the border can be taken care of anytime, you know it I know it.

Stop with the excuses, Obama is on a power trip, you cant see it, thats fine, I dont expect you to. Dont go around saying people are hating on him cause we're not, again, its his policies of socialism and power hungry that are scaring people.

You are assuming everyone Obama appoints is grossly incompetent automatically. And you've got the gall to tell me I'm somehow blinded?

Excuses? I'm not making any excuses, he's doing now what other, INCLUDING REPUBLICAN, presidents have done. You can keep whining about everything Obama does if it makes you feel better, no skin off my ***.

[ShiningStar]

Originally Posted by DIAF

You are assuming everyone Obama appoints is grossly incompetent automatically. And you've got the gall to tell me I'm somehow blinded?

Excuses? I'm not making any excuses, he's doing now what other, INCLUDING REPUBLICAN, presidents have done. You can keep whining about everything Obama does if it makes you feel better, no skin off my ***.

tell me how im wrong, who has appointed more Czars than this guy? Do you really feel comfortable with Geithner? Shall i bring up every tax invader? Just cause you love you some Obama doesnt mean the rest of us are wrong for calling the guy on things he is failing on.

im sorry if you liked that we dumped money into GM AFTER he screamed it was to big to fail and by giving it money it wont go bankrupt.

Im sorry if you believed him when he screamed this was the worst recession or depression ever and jammed that stimulus package down our throat.

he is failing on some subjects and people are calling him out on it.

HE said this is transparent and if hes wrong, call him on it and we are. If you dont like get over yourself.