The title of the latest report from the Special Inspector General for the TARP is "Treasury Continues Approving Excessive Pay for Top Executives at Bailed-Out Companies". We bailed out AIG, GM and Ally Financial. However, the Treasury feels that the executives of these firms must be compensated as though nothing happened - the executives were doing a great job when these firms collapsed and continued to do so through 2012.
That's what it would seem as Treasury approved pay packages of $3 million or more for 54% of the 69 Top 25 employees at AIG, GM and Ally Financial Inc. (formerly General Motors Acceptance Corporation, Inc.) – 23% of these top executives (16 of 69) received Treasury-approved pay packages of $5 million or more, and 30% (21 of 69) received pay ranging from $3 million to $4.9 million. Treasury seemingly set a floor, awarding 2012 total pay of at least $1 million for all but one person.
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