member in the senate judicial committee and joseph r. biden is a member of the committee. stephen breyer is counsel to that committee and there s a vacancy in the federal appeals court out of boston, massachusetts. senator kennedy, who was obviously having a contentious time with jimmy carter running against him in a presidential primary, wants archibald cox to get the open slot. carter says, no, not happening. time passes. kennedy withdraws from the presidency, and ken feinberg, who went on to become the pay czar, ran ted kennedy s office suggests that steve breyer, the counsel, get the slot. kennedy asks carter to nominate breyer to the federal appeals court in boston. carter agrees to it. he becomes a federal judge in 1980, and 14 years later when there was an opening on the court ted kennedy asks bill clinton to put stephen breyer on
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having a pay czar at the i.r.s. because the i.r.s. has to enforce this. the i.r.s. has to define who is highly compensated and what are rich benefits. this is lunatic complexity from the government, as they are defining what is utopian benefits that nobody can afford in health reform, while they re uninsuring the ensured. that is what is going on now. rich, out in silicon valley, the rarefied air there, they are always using compensation packages to lure employees in. but this would take some of that out of their hands, right? every company, you know, that i know of has a key person policy where you just take care of the people who vital for the future of your company. so the insurance companies themselves who are providing this key person insurance are going to require that those people get a higher level of healthcare. to put it in context that people can understand, does it make sense for the denver broncos to give peyton manning a little, a higher degree of
ken feinberg, you were in charge of trying to deal with this bonus issue. it goz this larger question. the american public is acting as if they learned their lesson. borrowing less and being more careful saving. it doesn t look like wall street learned their lesson. am i wrong or they don t see they were as big of a problem as we maybe in the media or the american public thinks they were. i agree with that. my role as the pay czar remember was limited to 175 individual corporate officials. in just seven companies. it was a side show. historically and up to the r7b9 moment, a wall street and main street have always been widely changing in views and deceptions. you will see this executive
bailout rage returns. cnbc s mandy drury is here with what s moving your money. and at a time where most workers would be happy to get any kind of raise, big pay hikes still going out to companies that got billions of dollars in taxpayer bailouts. that s right, chris. according to a watchdog report this morning, the treasury department ignored its own guidelines on executive pay at firms that received taxpayer bailouts. and last year approved compensation packages of over $3 million for senior execs at companies like general motors, allied financial, and aig. now, apparently, the government s pay czar signed off on $6.2 million in raises for 18 employees at those three companies. and the ceo of a division at aig received a $1 million pay raise. an exec at gm s troubled european union was also given a $100,000 pay raise. and in another instance, chris, apparently an employee at allied s residential capital was awarded a $200,000 pay raise,
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