Pay Czar Increased Base Pay at Firms

It's one thing to reduce the exorbitant pay for CEOs and such at companies that receive public money. It's quite another to adjust the entire salary structure at those firms to make things more "equitable." Socialism, anyone? It sure ain't the free market.

Pay Czar Increased Base Pay at Firms - WSJ.com:

"Treasury Department pay czar Kenneth Feinberg last week announced sharp cuts in total compensation at the finance and auto companies under his control.

But while he cut total compensation by half, he substantially increased one important element -- regular salaries, according to a Wall Street Journal analysis.

The move reflects the complexity of regulating something that mixes politics and economics.

Mr. Feinberg oversees seven firms that accepted bailout packages: American International Group Inc., Citigroup Inc., Bank of America Corp., General Motors Corp., GMAC Financial Services, Chrysler Group and Chrysler Financial."