Executive Pay Limit, Bank Bailout | 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.

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.