More Pay Cuts Issued For Top Bailout Execs

Law360, New York (December 11, 2009, 3:31 PM EST) -- The wallets of many top executives at American International Group Inc., Citigroup Inc., General Motors Co. and GMAC Inc. — which received assistance from the U.S. government's $700 billion Troubled Asset Relief Program — will be slightly slimmer this holiday season, with the Obama administration's pay czar issuing a second round of executive compensation cuts.

U.S. Department of the Treasury Special Master for Executive Compensation Kenneth Feinberg announced Friday that 75 of the 100 most highly compensated employees and executive officers at the four companies will...
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