Dean Baker: The $200,000 Insult: Come to Chicago

Kenneth Feinberg, President Obama’s compensation czar for bailed out banks, appears to have taken some genuine steps to rein in excessive executive compensation at the basket case banks that received the most TARP money. He cut cash salaries by 90 percent in some cases and reduced overall compensation for the top executives at the seven institutions that received the most government money. This is a good first step, but it is only a first step.

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Dean Baker: The $200,000 Insult: Come to Chicago