POLITICS
05/08/2009 05:12 am ET Updated May 25, 2011

INVESTIGATION: Are Obama Officials Helping Execs Avoid Pay Caps?

A congressional oversight committee opened an investigation yesterday into whether the Obama administration is circumventing a law that limits lavish pay for executives at firms benefiting from the $700 billion federal bailout.

Rep. Edolphus Towns (D-N.Y.), chairman of the House Oversight and Government Reform Committee, sent a letter to Treasury Secretary Timothy F. Geithner asking for records on any special entities that the government believes it can use to funnel bailout money without requiring firms to abide by congressional restrictions.

Read more on Washington Post