Report: AIG asking corporate pay czar Kenneth Feinberg to approve next week’s bonus payments

October 14th, 2009 Watchdog: Treasury and Fed failed in AIG oversightWASHINGTON — Treasury Secretary Timothy Geithner is "ultimately responsible" for regulators' failure to rein in massive bonus payments at American International Group because he led the agencies that provided AIG's lifelines, according to a bailout watchdog. Geithner was president of the Federal Reserve Bank of New York before taking over at Treasury in January.

October 14th, 2009 Watchdog: Treasury wasn't prepared for AIG bonusesWASHINGTON — The fierce debate over bonuses for bailed-out executives was revived on Capitol Hill Wednesday as a government watchdog explained how some executives nearly brought down the financial system — then pocketed millions. Neil Barofsky, the special inspector general for the $700 billion financial rescue program, is expected to answer questions about a new report outlining the official missteps that led to massive bonus payments for executives at insurer American International Group Inc.

October 13th, 2009 Pay czar asks AIG not to pay promised bonusesWASHINGTON — The Obama administration's pay czar has asked American International Group to withhold some of the millions in bonuses promised to its employees. Kenneth Feinberg, the special master for executive compensation, "has informally advised AIG not to pay the full $198 million" employees expect to receive, according to a report Tuesday from the special inspector general overseeing the $700 billion financial bailout.

October 13th, 2009 Treasury said to be unprepared on AIG bonus plansWASHINGTON — The pitched drama over bonuses for bailed-out executives will be revived on Capitol Hill Wednesday as a government watchdog explains how some executives nearly brought down the financial system — then pocketed millions. Neil Barofsky, the special inspector general for the $700 billion financial rescue program, will answer questions about a new report outlining the official missteps that led to massive bonus payments for executives at insurer American International Group Inc.

October 6th, 2009 Bailed-out banks act before pay czar announcementWASHINGTON — Several firms that received large taxpayer bailouts have adjusted executive compensation to trim cash payouts before the Obama administration's pay czar issues new rules. Some fear those rules will go too far, preventing them from attracting the talent they need to remain competitive.

September 21st, 2009 BofA to pay $425M to exit government arrangementWASHINGTON — Bank of America reached an agreement Monday to pay the United States $425 million to exit a costly arrangement whereby the government would have shouldered losses on risky assets from the bank's takeover of Merrill Lynch. The fee, which comes after weeks of haggling, will be paid to the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp.

August 24th, 2009 BofA defends Merrill bonus settlementCHARLOTTE, N.C. — Bank of America Corp.

August 17th, 2009 New AIG CEO to receive $7 million annual salaryNEW YORK — American International Group Inc.'s new CEO will be paid a yearly salary worth $7 million and could earn millions more in performance-based incentives, the bailed-out insurance giant said Monday. Robert Benmosche will receive $3 million in cash and $4 million in stock under his annual compensation package, AIG said in a filing with the Securities and Exchange Commission.

August 14th, 2009 Obama 'pay czar' to review compensation plansWASHINGTON — The Obama administration's "pay czar" is embarking on a review of proposed compensation packages for the top employees at seven companies that are on government life support, marking the first time a federal official will have veto power over how much private-sector executives are compensated. Kenneth Feinberg, who ran the government's fund for families of the victims of the Sept.

August 12th, 2009 Meltdown 101: How will executive pay curbs work?WASHINGTON — Seven companies on government life support — bailout recipients like General Motors and Citigroup — face a deadline Thursday to propose compensation packages for their highest-paid employees, which will have to get the thumbs-up from the Obama administration's "pay czar." It's the first time a federal official will have veto power over the how much private-sector executives are compensated. Some fear this new power encroaches on the free market, but Congress decided the government should have a say when it comes to the companies relying most heavily on taxpayer money.

August 11th, 2009 Newspaper union to see Tribune bonus informationWILMINGTON, Del. — A federal bankruptcy judge in Delaware says a union representing newspaper workers can see details about the Tribune Co.'s proposal to give bonuses totaling up to $70 million to the company's top managers.

July 25th, 2009 Citi exec's pay package may spark gov't showdownThe hefty 2009 pay package of Andrew J. Hall, leader of Citigroup Inc.'s lucrative Phibro energy trading unit, may spark a showdown between the New York-based bank and government pay czar Kenneth Feinberg.

July 10th, 2009 AP Source: AIG consults administration on bonusesNEW YORK — American International Group Inc. is consulting with the federal government about its plans to pay millions of dollars in retention incentives and bonuses, a person familiar with the situation said.

June 10th, 2009 Official: Obama wants shareholder say on exec payWASHINGTON — An administration official says President Barack Obama will ask Congress to give shareholders a nonbinding voice in how much corporate executives are paid. It's an effort to link compensation to long-term performance rather than short-term gains.

June 10th, 2009 Consideration of Sun-Times bonus plan on holdWILMINGTON, Del. — The Sun-Times Media Group has asked a bankruptcy judge to delay consideration of proposed bonuses of up to $1.8 million for certain employees in the event of a successful sale of assets.