Report Says Treasury Department Overpaid GM Executives During Bailout

Report Says Treasury Department Overpaid GM Executives During Bailout
Top executives at General Motors and Ally Financial received excessive compensation after receiving bailout funds from the U.S. Treasury in 2009, according to a Treasury special inspector general report released today.

The Treasury set limits on executive pay at GM and Ally as a condition for their receiving the bailout funds from the department’s Troubled Asset Relief Program during the 2008-09 financial crisis. The report, from a special inspector general assigned to look into executive pay at companies that received TARP funds, found that the Treasury rolled back those pay limits in later years, even as it continued to hold billions of dollars worth of stock in the companies.


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JDMUSMuscleJDMUSMuscle - 9/24/2014 5:16:32 PM
-1 Boost
The United States is a failed state, as the government had to bail out failed companies like General Motors and Chrysler. This is practically a national disgrace, can you imagine BMW, Daimler-Benz and Volkswagen Group asking the German government for bailout money? No, not really, because everyone knows they are the most successful luxury auto brands in the entire world.

And we thought GM and Chrysler learned their lessons, but they still had the nerve to keep producing unreliable pieces of junk that only hillbilly Americans would purchase. And Ford did not take their bailout money, but what's the point, when Ford is becoming just a very blend brand with their luxury brand becoming a new Mercury.

Not only that, it is as though this country has a serious identity crisis. Is it trying to be a Capitalist country? Or a Socialist country?

But yes, it doesn't matter whether Cadillac moved to NYC or not, practically no one wants some failed brand like Cadillac, when there are options like Mercedes-Benz, BMW, Audi and Porsche.

But I still think somewhat, moving Caddy to NYC was a good decision. The reason is simple, New York City seems to be the "only" place, I say again (Not just because I am originally from NYC, but this is how I feel), New York City alone is leading this trash country called the United States of America, and without New York City, what can the United States really do, honestly? Without NYC, how can the United States even compete with the very best brands from the European nations?



randy3023randy3023 - 9/24/2014 5:57:08 PM
+1 Boost
ANY GM autoworkers or executives implicated by this report should be forced to REPAY the cash they stole from taxpayers. They are a DISGRACE.


TheSteveTheSteve - 9/24/2014 6:37:55 PM
+1 Boost
Just remember, when someone speaks of "the government bailing out GM," what they actually mean is the federal government borrowed a mountain of money, gave it to GM, and sent the bill (that's the DEBT) to lower and middle-class Americans, who'll be paying for that debt in the form of taxes.


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