Treasury Blasted For Not Reining In AIG, GM Bailout Pay

Law360, Washington (January 28, 2013, 6:32 PM EST) -- A government watchdog blasted the U.S. Department of the Treasury on Monday for again failing to curb excessive compensation packages at federally bailed-out American International Group Inc., General Motors Co. and Ally Financial Inc., saying the agency has abandoned its responsibility to taxpayers.

According to a report from the special inspector general for the Troubled Asset Relief Program, the Treasury allowed AIG, GM and Ally to pay 68 out of 69 executives $1 million or more for 2012, and virtually signed off on all of the...
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