WASHINGTON — The Treasury Department ignored its own guidelines on executive pay at firms that received taxpayer bailouts and last year approved compensation packages of more than $3 million for the senior ranks at General Motors, Ally Financial, and American International Group, according to a watchdog report released Monday.
The report from the special inspector general for the Troubled Asset Relief Program said the government’s pay czar signed off on $6.2 million in raises for 18 employees at the three companies. The chief executive of a division of AIG received a $1 million raise, while an executive at GM’s troubled European unit was give a $100,000 raise. In one instance, an employee of AIG’s Residential Capital was awarded a $200,000 pay increase weeks before the subsidiary filed for bankruptcy.
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they can't risk losing donations for their campaigns...............I was under the impression that only those evil republicans would do something like this.