Report: TARP Pay Czar Patricia Geoghegan Permitted Excessive Executive Pay at Bailed-Out Companies:

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  28 Jan 2013 Top executives at three major companies that received taxpayer-financed bailouts received excessively generous pay packages last year, in an apparent violation of Treasury guidelines aimed at restricting their compensation, a government watchdog asserted in a report Monday. The Office of the Special Inspector General for the Trouble Asset Relief Program — which keeps tabs on taxpayer bailouts — singled out for blame “pay czar” Patricia Geoghegan, the Treasury official tasked with reining in excessive pay increases for executives at bailed-out companies. The SIGTARP report directly questioned Geoghegan’s judgment in ignoring directives set by her predecessor as well as recommendations from a previous report, saying she accepted companies’ own justifications for high executive pay.y.