Officials Debate High Pay at Bailed-out Firms

Tuesday, 26 Feb 2013 01:57 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Government officials are arguing over whether pay is still too high for top executives at bailed-out companies.

The head of a group that watches over the government bailout thinks that pay is too high. Christy Romero on Tuesday told the House oversight committee that taxpayers depend on the government to put a lid on pay at companies whose missteps nearly crippled the U.S. financial system.

She says top executives at companies like AIG, Ally, and General Motors continue to rake in Treasury-approved multimillion-dollar pay packages.

But the Treasury official who approves executive pay argues that the compensation at those companies is reasonable. Patricia Geoghegan says she had to allow the companies to pay enough to attract the talent they need. That way the companies can finish paying back bailout loans.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved