Executives, Executive Pay Limit | featured news

Top executives at troubled insurer American International Group have been struggling financially after taking personal losses in the wake of the near-collapse of the company last year, AIG's chief executive Robert Benmosche told the Wall Street Journal in an interview.

Goldman Sachs said its top 30 executives won't receive a cash bonus for 2009 and that shareholders will be given an advisory vote on executive pay.

Five senior executives at American International Group told the insurer last week they may quit if their compensation was cut significantly by the U.S. pay czar, the Wall Street Journal reported on Sunday.

How far to go in limiting bankers' bonuses looms as one of the toughest issues at this week's summit of world leaders in Pittsburgh, with clear differences between the U.S. and Europe.

The House of Representatives is considering legislation Wednesday that would grant Treasury Secretary Timothy Geithner the authority to ban future "unreasonable and excessive" compensation at companies receiving federal bailout money.

France banned companies that get state aid from issuing options to top managers, and it limited other forms of compensation.