Analysis: The Fed Shouldn’t Decide Bankers’ Pay

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Published in Money Watch October 6, 2009 by Cait Murphy
Pity the poor bankers. Not only are they Michael Moore’s latest target and fodder for late-night talk show hosts, but now the Federal Reserve is proposing to oversee the details of their multimillion-dollar paychecks. This is a separate effort from the proposals by Kenneth Feinberg, compensation consultant to the Obama administration, to change the pay practices for top executives at companies the government has bailed out like AIG, Bank of America, Citigroup, and GM.

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