Feinberg Says `Very Concerned' Pay Cuts to Affect Talent: Video

Nov. 12 (Bloomberg) -- Kenneth Feinberg, the Obama administration's special master for executive ...  More »

Nov. 12 (Bloomberg) -- Kenneth Feinberg, the Obama administration's special master for executive compensation, speaks about pay restrictions and their potential impact on talent pools at companies bailed out by U.S. taxpayers. Feinberg, speaking at a conference in Washington held by Bloomberg Ventures, a unit of Bloomberg LP, parent of Bloomberg News, said he is "very concerned" that pay cuts may drive talent away. Feinberg has ordered pay reductions averaging 50 percent for top 25 executives at Citigroup Inc., Bank of America Corp., American International Group Inc. and four other companies that took U.S. bailout money. Bloomberg's Robert Friedman moderates the conversation. (This report is an excerpt. Source: Bloomberg)  « Less