SIGTARP: Treasury ignored rules for pay at rescued firms

01/29/2013 | Washington Post, The

The U.S. Treasury Department disregarded its guidelines for executive compensation at government-rescued companies when it approved millions of dollars in raises last year at Ally Financial, American International Group and General Motors, according to a report by the Office of the Special Inspector General for the Troubled Asset Relief Program. The report says Patricia Geoghegan, the Treasury's acting special master for compensation, circumvented procedures aimed at keeping pay at the midpoint of similar companies.

View Full Article in:

Washington Post, The

Published in Briefs: