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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.