Tuesday, March 23, 2010
The Special Master for TARP Executive Compensation, Kenneth R. Feinberg, issued
his rulings on 2010 executive pay packages for the `Top 25' executives at the five remaining firms that received exceptional assistance from taxpayers: AIG, Chrysler, Chrysler Financial, GM, and GMAC. Because Bank of America and Citigroup repaid their exceptional assistance, they are not subject to the Special Master's 2010 rulings. The Special Master also released a letter requesting information on compensation paid to the `Top 25' executives at each firm that received TARP assistance before February 17, 2009 to obtain information needed for the `look back' review required by the Recovery Act.