why are the banks so eager to return these loans? it s in part because they are afraid of our next guest. joining us now is kenneth feinberg. he s the special master for t.a.r.p. executive compensation, also known as the pay czar by people who know that the word czar in this case is high personally and that he s probably not even really russian. mr. feinberg, thanks very much for coming on the show. thank you. as i understand it, your job is very narrowly defined by congress. you are to set executive pay limits at companies that received the most bailout money, and only why they still have bailout money outstanding, right? that s exactly right. that s the way the statute reads. i started with seven companies. bank of america and citigroup repaid the taxpayer. that was my primary objective under the law. they re out. in 2010, i m down to five companies, aig, gm, gmac, chrysler, and chrysler financial. when you say it was your primary objective, it was your
joining us now is kenneth feinberg. he s the special master for t.a.r.p. executive compensation, also known as the pay czar by people who know that the word czar in this case is high hyperbole and he s probably not even really russian. mr. feinberg, thanks very much for coming on the show. thank you. as i understand it, your job is very narrowly defined by congress. you are to set executive pay limits at companies that received the most bailout money, and only while they still have bailout money outstanding, right? that s exactly right. that s the way the statute reads. i started with seven companies. bank of america and citigroup repaid the taxpayer. that was my primary objective under the law. they re out. in 2010, i m down to five companies aig, gm, gmac, chrysler, and chrysler financial. when you say it was your primary objective, it was your primary objective to get those companies to pay the money back? clearly. the secretary of the treasury