Special Master for Executive Compensation Kenneth Feinberg, also known as the Treasury Department's "pay czar", speaks about TARP (Troubled Asset Relief Program) and the financial crisis during a discussion at Georgetown Law School in …
Updated: Friday, 16 Apr 2010, 12:52 PM EDT
Published : Friday, 16 Apr 2010, 12:38 PM EDT
WASHINGTON (AP) - The Treasury Department says three big companies still living on federal bailout money will see cash salaries for 225 of their top earners limited in 2010 so that only five of those executives will be making cash salaries above $500,000.
The Treasury Department said that would be a reduction from 69 officials in this group who were earning cash salaries above $500,000 in 2009.
The three firms involved are General Motors and its financing arm GMAC and insurance giant American International Group.
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