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Mon Jan 28, 2013, 03:17 PM

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

Source: WaPo

The report says Treasury bypassed rules under the 2008 bailout that limited pay. Treasury approved raises that exceeded pay limits and in some cases failed to link compensation to performance, it notes.

Christy Romero, the special inspector general for TARP, said the guidelines say compensation should not exceed the 50th percentile of pay for executives in similar positions at other financially distressed companies.

But pay surpassed that level for 63 percent of the executives whose pay was approved, according to the report.

The report also said Treasury officials had been warned a year ago that the department needed to reform its procedures to ensure that the pay guidelines are followed.

Read more: http://www.washingtonpost.com/business/report-treasury-approved-excessive-pay-for-executives-at-bailed-out-aig-gm-and-ally/2013/01/28/7e9f52ba-697d-11e2-9a0b-db931670f35d_story.html



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Reply Report: Treasury approved excessive pay for executives at bailed-out AIG, GM and Ally (Original post)
Earth Bound Misfit Jan 2013 OP
KoKo Jan 2013 #1
Lasher Jan 2013 #8
SoapBox Jan 2013 #2
leveymg Jan 2013 #3
Octafish Jan 2013 #4
NorthCarolina Jan 2013 #5
lordsummerisle Jan 2013 #6
Hotler Jan 2013 #7
Scuba Jan 2013 #9

Response to Earth Bound Misfit (Original post)

Mon Jan 28, 2013, 03:28 PM

1. Oops...GM not GE....still it's not good.

More corruption.

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Response to KoKo (Reply #1)

Mon Jan 28, 2013, 08:49 PM

8. No, it's General Motors

Not General Electric

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Response to Earth Bound Misfit (Original post)

Mon Jan 28, 2013, 03:29 PM

2. Rotten to the core...

If you've ever been a Wall Street Bankster type...

you are rotten through and through...amazing how they protect their own.

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Response to Earth Bound Misfit (Original post)

Mon Jan 28, 2013, 03:39 PM

3. "Ally Bank" is what's left of GMAC Finance after Cerberus/Ezra Merkin/Bank Lumi/ picked it clean.

Now, spic and span bleached white bones.

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Response to Earth Bound Misfit (Original post)

Mon Jan 28, 2013, 04:20 PM

4. FoG

Friends of Geithner.

What is must pay to be, Alex?

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Response to Earth Bound Misfit (Original post)

Mon Jan 28, 2013, 06:24 PM

5. I'm shocked, shocked I tell ya...

well, ok, not really. Hopefully people are still paying attention, but I don't have 'high hopes' in that regard either.

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Response to Earth Bound Misfit (Original post)

Mon Jan 28, 2013, 08:11 PM

6. Well isn't that special

and people wonder why so many are disengaged from politics when this sort of thing is revealed?
They realize (correctly) that the game is rigged, so why bother? I'm almost at this point myself...

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Response to Earth Bound Misfit (Original post)

Mon Jan 28, 2013, 08:49 PM

7. Now is not the time to point fingers.....

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Response to Earth Bound Misfit (Original post)

Tue Jan 29, 2013, 06:26 AM

9. Of the wealthy, by the wealthy, for the wealthy.

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