Lawmaker Blasts TARP Paymaster Over Exec Pay Packages

Law360, New York (February 26, 2013, 2:57 PM EST) -- Rep. Jim Jordan, R-Ohio, on Tuesday blasted the Troubled Assets Relief Program paymaster over her office’s approval of hefty executive pay packages at companies bailed out by the program, saying the office failed to keep President Barack Obama’s promise to rein in executive payment.

Jordan, the overseer of the House Oversight and Government Reform Committee hearing, said TARP’s so-called pay czar Patricia Geoghegan and her office ignored its responsibility to taxpayers by approving dozens of executive salaries in excess of $1 million, despite the president’s promise...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.