In response to the criticism from SIGTARP, a Treasury spokesman notes that the Top 25 pay for the seven banks that originally received TARP loans by more than 50% (including a more than 90% cut to cash pay), and that the CEOs of AIG, GM and Ally (the former GMAC) have not received pay increases during their tenure.
FORBES: TARP Watchdog: Treasury Failed To Rein In Pay At Bailed-Out AIG, GM, Ally Financial