Pay Czar:Lack of Authority Is Disappointment (he's keeping fingers crossed banksters will do right)

[Robbien]

an. 6 (Bloomberg) -- Kenneth Feinberg, the U.S. special master on executive compensation, said he’s disappointed he lacks authority to have greater influence over Wall Street pay.

“The biggest disappointment, I think, is that under the statute my jurisdiction is so narrow, and so circumscribed, that I have no real direct mandatory power over other Wall Street or other national companies,” Feinberg said today in an interview with Bloomberg special contributor Judy Woodruff.

. . .

“I have my fingers crossed that we have developed some guidelines, some compensation prescriptions that will be emulated,” Feinberg said.

. . .

Feinberg said his “biggest accomplishment” as pay special master is Citigroup and Bank of America’s repayment of U.S. aid.

http://www.bloomberg.com/apps/news?pid=20601208&sid=avPRq8zSCcOw



I didn't know that banksters will toe the line because they are fearful of one keeping one's fingers crossed.

[Dr.Phool]

1. It's called regulation.

Congress is afraid to mention it. Somebody will call them Socialists or something.

When a situation is a complete clusterfuck, you regulate it back into the mainstream.

[Lasher]

2. Keeping fingers crossed now, then shocked disbelief later.

A familiar scenario.

[Doctor_J]

3. I'll cross my fingers AND toes

That worked so well for me when I decided 4 years ago, "I'm going to cross my fingers and toes that Norah Jones will have sex with me"

Don't these people know how aggravating they are?