Family Security Matters » Publications » The Pay Czar's Power Grab: "Pay czar Kenneth Feinberg's official government title is 'Special Master for Compensation.' You'll be happy to know that he's really getting into the confiscatory spirit of his role. Asked by Reuters whether his powers include reaching back and revoking bonuses awarded to financial industry executives before his office was created earlier this year, Feinberg asserted broad and binding authorities -- including the ability to 'claw back' money already paid out.
Regulations governing his office explicitly limit his jurisdiction over contracts signed before Feb. 11, 2009. But the fine print is no obstacle to Obama's czars. 'The statute provides these guideposts, but the statute ultimately says I have discretion to decide what it is that these people should make and that my determination will be final,' Feinberg claims. 'Anything is possible under the law.'"
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