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James Gorman
AIG, Ally and GM CEO pay frozen at 2011 levels: Treasury
AIG, Ally and GM CEO pay frozen at 2011 levels: Treasury

Compensation for chief executives at AIG, Ally Financial and GM -- all of which received exceptional TARP assistance during the financial meltdown -- is being frozen at last year's levels, the Treasury Department said. The ruling from Patricia Geoghegan, acting special master for executive compensation under the Troubled Asset Relief Program, also notes that the government has recovered 75% of the funds it invested in American International Group Inc. General Motors Co. has reduced its obligations by nearly half, while Ally Financial Inc. (formerly GMAC) has returned nearly a third of its TARP funds. The companies are all still partly owned by the government; four others have since...

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