Bailout King AIG to Pay Millions in Bonuses

Washington Post by David Cho, Brady Dennis | Mar. 15, 2009 (News Report)

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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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”.

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