Executive Pay Limit | featured news

Taxpayers won't foot the bill for raises for the chief executives at any of the four firms—GM, Chrysler, AIG, Ally Financial—still receiving assistance under the federal bank bailout.

A compensation review of 28 financial companies found that many of the bonus programs that economists said contributed to the financial crisis were still in place.

Top executives at troubled insurer American International Group have been struggling financially after taking personal losses in the wake of the near-collapse of the company last year, AIG's chief executive Robert Benmosche told the Wall Street Journal in an interview.

Goldman Sachs said its top 30 executives won't receive a cash bonus for 2009 and that shareholders will be given an advisory vote on executive pay.

Five senior executives at American International Group told the insurer last week they may quit if their compensation was cut significantly by the U.S. pay czar, the Wall Street Journal reported on Sunday.

After just three months as head of American International Group, Robert Benmosche has threatened to leave his post as he struggles to deal with heavy government oversight.

How far to go in limiting bankers' bonuses looms as one of the toughest issues at this week's summit of world leaders in Pittsburgh, with clear differences between the U.S. and Europe.

The Obama administration appointed Kenneth R. Feinberg to the new post, giving him broad discretion to set pay for 175 top executives at seven of the nation’s largest companies.

The House of Representatives is considering legislation Wednesday that would grant Treasury Secretary Timothy Geithner the authority to ban future "unreasonable and excessive" compensation at companies receiving federal bailout money.

France banned companies that get state aid from issuing options to top managers, and it limited other forms of compensation.