Former adjunct law professor Ken Feinberg has been appointed by the Obama administration to oversee the compensation of executives at financial companies receiving government bailout money.
Feinberg taught one class per year titled “Mass Torts” from the 1998-1999 academic year through the 2004-2005 academic year, according to Penn Law spokesperson Mark Eyerly. He has also been a faculty member at Georgetown, Columbia and New York Universities, as well as at the University of Virginia and the University of California - Los Angeles.
As “compensation czar,” Feinberg’s responsibilities will include setting the pay for the 25 highest-ranking officials at American International Group, Citibank, Chrysler, Chrysler Credit, General Motors, GMAC and Bank of America. Feinberg himself will not receive any government compensation.
The new appointee is no stranger to serving in the federal government. During former President George W. Bush’s adminstration, Feinberg was responsible for settling potential lawsuits against the government by the families of victims of the September 11, 2001 terrorist attacks.
In 2004, Feinberg was named “Lawyer of the Year” by the National Law Journal.
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