On Wednesday, October 28, 2009,

Chairman Edolphus “Ed” Towns (D-NY) and the House Oversight and Government Reform Committee will examine executive compensation at Troubled Asset Relief Program (TARP) recipients. The hearing entitled: “Executive Compensation: How Much is Too Much?” will feature testimony from Kenneth Feinberg, the Special Master for TARP Executive Compensation, who will discuss his review of the bonuses paid to employees at the seven largest TARP recipients (American International Group (AIG), Bank of America, Citigroup, Chrysler, Chrysler Financial, General Motors and GMAC).

The hearing will take place at 11:00 a.m. in room 2154 Rayburn House Office Building The witnesses scheduled to testify include:

Panel I

Mr. Kenneth Feinberg
Special Master for TARP Executive Compensation
United States Department of Treasury

Panel II

Professor William K. Black
Associate Professor of Economics and Law
University of Missouri – Kansas City (UMKC)

Professor Russell Roberts
Professor of Economics
George Mason University

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To view a webcast of the hearing, click on the link below: Click Here

Documents and Links

Opening Statement of Chairman Edolphus Towns

Prepared Testimony of Mr. Kenneth Feinberg

Prepared Testimony of Professow William Black

Prepared Testimony of Professor Russell Roberts

Closing Statement of Chairman Edolphus Towns

Report of the Special Master for TARP Executive Compensation