Bailout King AIG to Pay Millions in Bonuses

Insurance giant American International Group will award hundreds of millions of dollars in employee bonuses and retention pay despite a confrontation Wednesday between the chief executive and Treasury Secretary Timothy F. Geithner.

But the company agreed to revise some executive payments after what AIG's leader, Edward M. Liddy, called a "difficult" conversation.

The bonuses and other payments have been exasperating government officials, ... Full Story »

Posted by Leo Romero
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Posted by: Posted by Leo Romero - Mar 14, 2009 - 10:08 PM PDT
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Edited by: Leo Romero - Mar 14, 2009 - 10:08 PM PDT

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Fabrice Florin
3.9
by Fabrice Florin - Mar. 15, 2009

Great reporting from the Washington Post, which apparently broke this story on AIG's executive bonuses. This breaking news piece provides extensive factual evidence, though much of it is from anonymous sources speaking off the record. This is nevertheless an excellent report about an important issue.

See Full Review » (11 answers)
Jack Dinkmeyer
3.5
by Jack Dinkmeyer - Mar. 15, 2009

Straight journalism based on unidentified sources. It’s also full of pussyfooting statements: “nearly sank AIG.” Nearly? When the government hands over more money than several countries’ budgets, "nearly" doesn't hack it. “Retain talented staff.” Talented? In which way? “Top executives willing to forgo bonuses.” How about “top executives fired” instead of "forgoing"? If AIG is too big to fail, time to whittle it down to failure size.

Avarice has several fresh new names: “Wall Street”, “Banking Industry”, “AIG”.

See Full Review » (19 answers)
Kenneth Sibbett
4.0
by Kenneth Sibbett - Mar. 15, 2009

This story makes my skin scrawl. Highly specialized?A monkey could not have done a worse job.While the writers did a good job of explaining the reasons, the reasons stink. Let the bastards sue.

While the market had a pretty good week, Obama and co, are keeping it mellow, as they should.

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Peter L. Combs
3.9
by Peter L. Combs - Mar. 15, 2009

A rather passive look at the disgrace's running AIG, Including Paulson's selection Liddy Good overall reporting on the issue and the administration's direction on this, lets see if they can stick to it. Geithner's lack of credibility and poor record should be a focus of why no one listens to or respects him. (the writer could have developed this better)

I find this situation so absurd it's laughable. The bonus's are to retain the TALENT who they admit bankrupted the company. In my world bonus's are for superb perfomance not for destroying share value. Geithner is such a no credibility weasal, such a disgrace. I can picture the AIG CEO laughing at him after the call. I hope he grows a set at some point, or gets fired. Another Paulson legacy held over for a second act.

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Leo Romero
3.0
by Leo Romero - Mar. 14, 2009
See Full Review » (1 answer)

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