Mercer Select US - TARP special master cuts executive pay

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TARP special master cuts executive pay

Steep pay cuts will have to take place at the seven companies receiving exceptional TARP assistance -- AIG, Citigroup, Bank of America, Chrysler, General Motors, GMAC and Chrysler Financial -- Kenneth Feinberg, special master for TARP executive compensation, has ruled. While the pay curbs affect a limited number of employees and employers, the underlying compensation principles may draw wider attention from other regulators and stakeholders. (Select News, 23 Oct 2009)

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