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Big Bailout Recipients Forced to Cut Pay

FBN: Executives at Citigroup Inc. , Bank of America Corp. , American International Group Inc. , General Motors, GMAC, Chrysler and Chrysler Financial will be affected, according to the Times. The 25-best paid executives at the firms will reportedly get a 90% pay cut, and executives on average will have their compensation reduced by 50%. 25 best-paid executives by an average of about 90 percent from last year.


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