ABC News – by Marcy Gordon, AP
The U.S. Treasury Department continued to approve “excessive” pay raises for top executives at General Motors and its former consumer finance arm, both of which received taxpayer-funded bailouts during the financial crisis, a new government report says.
The government watchdog that oversees the $475 billion bailout said Treasury approved cash salaries exceeding $500,000 last year for 16 of the 47 top executives at General Motors Corp. and Ally Financial Inc. Treasury allowed total pay packages, including company stock, of at least $1 million for every top executive at the two companies, according to the report released Wednesday by the special inspector general for the Troubled Asset Relief Program. Continue reading “Report: Treasury OKs Big Pay Raises for GM, Ally”

Daily Beast
USA Today – by Casey Nolen
Sent to us by a reader.
Press TV
Reuters – by MAAYAN LUBELL
ABC 13 – by Miya Shay
Yahoo News – by Julia Edwards and Roberta Rampton
Fox News
Boston.com – by Lara Salahi
Nation of Change
Yahoo News
The Guardian – by Ed Pilkington
Fox News
TheBlaze – by Zach Nobel
Sent to us by a reader.
Yahoo News
All Gov – by Danny Biederman, Noel Brinkerhoff