NEW YORK (CNNMoney.com) -- New pay restrictions were unveiled Friday for hundreds of employees at the nation's biggest bailout recipients.
The ruling, imposed by White House "pay czar" Kenneth Feinberg, will impact 75 out of the 100 highest-paid employees at four companies - Citigroup (C, Fortune 500), AIG (AIG, Fortune 500), automaker General Motors as well as GMAC.
Except in a just a handful of cases, no employee will receive base compensation of more than $500,000 this year in terms of cash and stock.
Bank of America dodges a bullet
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Friday, December 11, 2009
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