Kenneth Feinberg's Pay-Cut Ruling = Corporate America's Compensation Model?

Kenneth Feinberg, the Obama administration's special master for executive compensation, talks with Bloomberg's Peter Cook about pay reductions he has demanded at seven taxpayer-rescued firms.

Feinberg is ordering pay cuts of an average of 50 percent and caps on benefits for top executives at seven companies that still owe the government billions of dollars from taxpayer-funded bailouts. Feinberg says his ruling should become the model for the rest of Wall Street and corporate America.

Watch the video at www.youtube.com/watch?v=VrmmaPLiJwA

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