Treasury Department Denies Raises To GM CEO And Others That Still Owe Taxpayers Money

The CEOs of three companies that received large government bailouts — including two Detroit firms — will receive no pay raises in 2012, the Treasury Department's special master overseeing executive pay said Friday.

But several other senior executives for General Motors Co., Ally Financial Inc. and AIG will get raises, according to determinations released Friday by Patricia Geoghegan, the Treasury's acting special master who oversees pay for those companies.

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Steve - 4/9/2012 4:02:49 PM

+4 Boost

Keep in mind that a huge part of the bail-out to GM was in the form of the Government (AKA Tax-Payers) purchasing a huge block of GM shares waaaaay above market value(i.e., well above last traded price in the bankrupted GM, and well above the IPO of the "new GM"). That's sort of like feeling sorry for a shoe salesman and buying 10,000 pairs of shoes for $5,000 a pair: The buyer will never break even on his purchase, and the seller makes off like a bandit by getting a huge whack of cash that is NOT repayable.

Remember folks, only a PORTION of the total bail-out booty give to GM was in the form of loans, and GM has repaid that potion. That's the piece they like to talk about. A LOT!!! They keep their mouth shut about the other part because it makes GM look much less of a success story.

WilloDean - 10/13/2014 3:19:26 AM

+1 Boost

A large number of taxpayer was embarrassed after finding out that the money they pay for their tax went to professionals of large company as their executive payment. The three big firms who filed for large bailout few years ago are those who got the TARP funding. If you do not get a pay raise this year, you can pay for extra things with an [url=https://personalmoneynetwork.com/installment-loans/]installment loan[/url].