Pay Czar Tells AIG to Start Slashing

The Obama administration’s pay czar Kenneth Feinberg has told AIG to reduce the $198 million it plans to pay in bonuses next March. The Special Master for Compensation, as Feinberg is officially and ominously known, called on AIG to cut the compensation after a report showed that the insurance giant was having trouble recouping money from last March’s bonus screw-up. [NYP]