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Bailed-out companies write their own rules for taxpayer-subsidized pay increases

Published on NewsOK Published: February 26, 2013
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Joel Gehrke

Patricia Geoghegan, the pay czar tasked with reviewing the compensation of executives at companies that were bailed out by the taxpayers, relies on those bailed-out companies to tell her what is a reasonable salary for their executives.

“The regulation makes clear that we must consider market forces,” Geoghegan told a House Oversight and Government Reform subcommittee when arguing that the pay increases she approved of more than $500,000 a year are consistent with the market standards.

Click to read full article at Washington Examiner