WASHINGTON (Reuters) - The chief executives of General Motors , AIG, and Ally Financial had their 2012 compensation packages frozen for a second year in a row by the Treasury Department after they got "exceptional" bailout help during the financial crisis.
The government pumped $68 billion into AIG from the Troubled Asset Relief Program, or TARP, and invested $50 billion in GM and $17 billion in Ally Financial to save them from collapse during the 2007-2009 crisis.
The Treasury also said total direct compensation during 2012 for 69 other senior executives at the three firms was being cut by 10 percent from 2011 levels.
Public anger over high pay and huge bonuses at bailed-out firms was so high that the Obama administration created a "special master's office" to monitor pay practices.
The Treasury said the three firms are making progress in repaying their taxpayer funds. It said AIG has reduced its obligations to the U.S. government by more than 75 percent, while Treasury has recovered nearly half the TARP funds it put into GM and close to one-third of the money that went to Ally Financial.....snip~
http://news.yahoo.com/treasury-freez...172309114.html
So anyone want to come up with a reason why the Obama Administration decided to come up with some Special Dept all due to the national output and the public anger over high pay for bailed out companies and their CEO's? Do you think using the the excuse and rationale that the public is angry and upset was a good enough reason for Obama to come up with to call his Special Bill Collectors. The Special Masters Office?
Which Lefty, Liberal, Democrat wants to defend the Obama Adminsitration creating a whole New Dept......just to monitor the pay of CEO's and Companies that recieved the Bailout? Any on the left think they can come in and defend this expansion of Government? To create a Special Dept Called the what? The SPECIAL MASTERS OFFICE. What the IRS and their collectors aren't good enought to use that Obama had to create a whole new means with a Whole New Dept? In order to monitor such.
Just what Do the Lib-tards and Obamatons have to say about their Special Master. Did you think this was like BBQ Sauce. Thats you can add a little flavoring. Care to explain why the Lame Stream Media didn't bring out the name of this Dept before this date and time. Do you think there is something that the American People can do before the Election, to Show this to the Entire Country?
Quite the coincidincy about a Man who would come from the east but rule in the West. Although one thing does need to be taken care of now. Which is the the LAME Stream Media that is in bed with this Administration and all this protection they are providing for Team Obama and the Democrats.