Feds cut pay of execs at bailed out firms
All three companies have yet to repay what they received from the $700 billion bailout and therefore are subject to pay cuts.
Since it was rescued under the Troubled Asset Relief Program after the housing crash, AIG has reduced what it owes the U.S. government by more than 75 percent, according to the Treasury. The insurance company still owes taxpayers around $50 billion.
The government has recovered nearly half of the funds invested in GM, which owes about $25 billion, and nearly one-third of the money injected into Ally Financial, which owes about $12 billion.
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