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Video: The Truth Behind the Czars


Kevin reveals a dark correlation between a horrible economy and the number of American czars in office.

These days, you can hardly read anything about business or politics without running into a czar.

Since President Obama took office, 32 official "czar offices" have been created to deal with a range of issues, from climate change to how to distribute TARP funds.

Currently, everybody's talking about Kenneth Feinberg, otherwise known as the "Pay Czar." Just today, Feinberg made headlines for taking a tough stance on compensation for AIG (AIG) executives (although he did approve CEO Robert Benmosche's package).

Meanwhile, executives over at Bank of America (BAC), Citigroup (C), and GMAC are reportedly reworking their compensation plans before Feinberg issues new rules.

But what's really going on here? Why so many czars? Perhaps there's more to this whole czar thing than meets the eye.

Join Kevin Depew for a closer look.

Have a great night!

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