Filed Under:Markets, Commercial Lines

AIG Among 3 TARP Companies to See Top Exec Compensation Freeze

Sept. 17, 2008 file photo of the AIG logo shown in New York (AP Photo/Mark Lennihan, file)
Sept. 17, 2008 file photo of the AIG logo shown in New York (AP Photo/Mark Lennihan, file)

The Treasury announced on April 6 that the chief executives of AIG, Ally Financial and General Motors would have their compensation packages frozen for a second year in a row, essentially keeping their compensation at 2011 levels.

The compensation freeze arose out of the 2007-2009 financial crisis when the government injected taxpayer-financed funds into the companies as part of the Troubled Asset Relief Program (TARP).

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