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Treasury approved excessive pay for executives at bailed-out AIG, GM and Ally

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At www.washingtonpost.com

The Special Inspector General for the Troubled Asset Relief Program said Treasury approved all 18 requests it received last year to raise pay for executives at American International Group Inc., General Motors Corp. and Ally Financial Inc. Of those requests, 14 were for $100,000 or more; the largest raise was $1 million. Treasury also allowed pay packages totaling $5 million or more for nearly a quarter of the executives at those firms, the report says.

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At www.washingtonpost.com


 

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