Treasury Freezes CEOs' Pay At Bailed-Out AIG, GM, Ally

Law360, New York (April 6, 2012, 5:55 PM EDT) -- The U.S. Treasury Department on Friday said the chief executives at American International Group Inc., Ally Financial Inc. and General Motors Co., the only three companies that have yet to repay government bailout funds, would not see a raise this year.

Patricia Geoghegan, the special master for Troubled Asset Relief Program executive compensation, said in a report that AIG CEO Robert Benmosche, GM CEO Dan Akerson and Ally CEO Michael Carpenter would have their 2012 compensation frozen at 2011 levels. Those three companies were among seven...
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