Kenneth Feinberg, a special master at the Treasury Department, gave testimony regarding compensation of the 25 highest-paid employees of 7 companies that received assistance under the Troubled Asset Relief Program (TARP). Mr. Feinberg addressed the method he used to determine the compensation of those 25 executives, the principles he used in making decisions, and his recommendations in dealing with executive compensation. He said his powers should not extend to the rest of the financial sector but that the standards he used should guide the broader marketplace. He also responded to critics of his plan.

In a second panel two college professors warned excessive compensation perpetuates risky and even criminal behavior in the U.S. financial system.