Czar Blocks BofA Chief's Pay

Lewis to Return $1 Million as U.S. Objects to Retirement Deal; Feinberg Flexes Muscle

The U.S. Treasury Department's pay czar pushed outgoing Bank of America Corp. Chief Executive Kenneth D. Lewis into giving back $1 million he received so far this year and forgoing the rest of his $1.5 million salary for 2009, say people familiar with the matter. Full Story »

Posted by Jo Bobenhouse Smith - via Fair Spin (Right), Memeorandum

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Jo Bobenhouse Smith
4.1
by Jo Bobenhouse Smith - Oct. 15, 2009

This is a straight forward look at the current status of Wall Street ovrsight of executive bonus structure.

The move makes Mr. Lewis the biggest target so far of Kenneth Feinberg, the Treasury’s “special master” for compensation.

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