White House Announces Big Pay Cuts for Bailed Out Firms, Banks

by Benjamin Domenech on 9:33 am October 22, 2009

“Kenneth Feinberg, the special master at Treasury appointed by Obama to handle compensation issues at the seven firms getting exceptional assistance from the government’s $700 billion financial bailout package, is making the pay decisions” expected to hit executive pay at Bank of America, American International Group, Citigroup, General Motors, Chrysler, others.

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