The top 25 executives at the seven US companies bailed out by the government will see their cash pay slashed. Kenneth Feinberg, the Obama administration’s “pay tsar”, is set to unveil drastic curbs for those whose pay plans he can overrule. Top executives at Citi, BofA AIG, GM, GMAC, Chrysler and Chrysler Financial will see an average cut of 90% in the cash part of their 2009 pay compared with 2008, although some of the reduction can be made up with stock that vests over several years. Overall packages will fall by about 50%.