Wall Street, Meet Ken Feinberg, the Pay Czar

The financial system was on the brink of collapse when taxpayers threw it a lifeline. Now bankers want their bonuses again. Wall Street, meet the pay czar, Ken Feinberg

Douglas Sonders for TIME

Ken Feinberg

Ken Feinberg is a close talker. Feinberg, a lawyer who in June was named the Treasury Department's special master for executive compensation, starts his sentences about 18 inches from your face and, with a thick Boston accent, leans in to make his point.

It's an unusual trait for a guy who has to deliver the type of news that most of us would prefer to dispense from across the room or, better yet, by e-mail from a do-not-reply address. On Oct. 22, he told 136 top executives of seven bailed-out firms that effective immediately, he...

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