Companies That Still Owe for Bail-Out Must Cut Salaries of Top Executives

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Companies That Still Owe for Bail-Out Must Cut Salaries of Top Executives

Story Created: Oct 22, 2009 at 2:28 PM CST

Story Updated: Oct 22, 2009 at 2:53 PM CST

Companies that haven't yet paid back their government bail-outs are going to have to make big cuts in the salaries of their top executives.

The order is expected today from the Treasury department. A treasury official who was appointed to handle compensation issues is making the pay decisions.

The head of a committee that oversees the federal bailout fund said executive compensation is excessive and must be brought under control.
 

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