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C'mon Treasury OK'd Excessive CEO Pay AP Photo

Treasury OK'd Excessive CEO Pay

Seriously, guys? A watchdog group has found that the U.S. Treasury Department allowed big raises for executives at three firms being bailed out during the financial crisis. The special inspector general for the Troubled Asset Relief Program published findings that show the Treasury approved 18 requests for paydays around $100,000—and even up to $1 million—for leaders at General Motors, American International Group and Ally Financial—despite rules that limited pay. Together, the three firms received close to $250 billion in bailout money. The Treasury official who approved the raises said the pay wasn't excessive.

January 28, 2013 3:30 PM