The Treasury Department is failing to rein in outsize pay for executives at some of the biggest bailed-out companies, according to the independent watchdog that is overseeing the Troubled Asset Relief Program.

Treasury officials awarded 63% of the 25 highest-paid employees at Ally Financial, AIG and General Motors total pay packages in 2012 that topped the median pay for executives at similar companies by more than $37 million, the special inspector general for Tarp said in a report released Monday.

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