Sen. Wants Answers On Exec Bonuses At Bankrupt Cos.

Law360, New York (February 13, 2012, 2:47 PM EST) -- Sen. Chuck Grassley, R-Iowa, told the U.S. Department of Justice in a letter last week that he is concerned executives in charge of bankrupt companies may be receiving outsized bonuses and asked for information on enforcement of a law designed to prevent this.

In the letter sent Feb. 7 in response to a Jan. 27 Wall Street Journal article reporting that some bankrupt companies were paying top executives hefty bonuses while ordinary workers faced steep cuts, Grassley said he was concerned these companies may be violating...
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