Government audit criticizes exec pay at GM, Ally, AIG after bailouts

Looks like the “Pay Czar” is being a little loose with the purse strings. The bailouts were so long ago. How can we expect these executives to get by on less than a million dollars a year?

(From The Detroit News)

“While taxpayers struggle to overcome the recent financial crisis and look to the U.S. government to put a lid on compensation for executives of firms whose missteps nearly crippled the U.S. financial system, the U.S. Department of the Treasury continues to allow excessive executive pay,” the report said.

The executives at GM, Ally and AIG “continue to rake in Treasury-approved multimillion-dollar pay packages that often exceed guidelines” previously announced, the report said.

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