On Feb. 15, Harvard Law School Professor Lucian Bebchuk testifed before the U.S. Senate Committee on Banking, Housing and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection at a hearing entitled “Pay for Performance: Incentive Compensation at Large Financial Institutions.”

In addition to Bebchuk, the panel of witnesses included: Kurt Hyde, deputy special inspector general, Troubled Asset Relief Program; Professor Robert J. Jackson, Jr., associate professor at Columbia Law School; and Michael S. Melbinger,
partner, Winston & Strawn.

Bebchuk is the co-author, with HLS Professor Jesse Fried, of “Pay without Performance: The Unfulfilled Promise of Executive Compensation.” He is also the director of the Program on Corporate Governance at Harvard Law School.