Many executives were already gone before pay-cut order arrived:

10/23/2009 | Washington Post (tiered subscription model), The

Many of the highest-paid executives at companies that received the biggest government bailouts in the financial crisis had already departed by the time the Treasury Department's Kenneth Feinberg ordered their pay cut. Of the 25 executives at American International Group affected by the compensation rulings, only 13 were still on the payroll when the decisions by the Treasury's special master on compensation were announced. At Bank of America, the number was 14 out of 25.

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