On the Heels of a Revised Bailout, AIG Shows Gratitude to Taxpayers By Proceeding to Pay Millions To Top Workers. Amazing, truly amazing.
From The Washington Post:
American International Group plans to pay out $503 million in deferred compensation to some of its top employees, saying it must tap the funds to keep valuable workers from exiting the troubled insurance giant. [Let 'em go. Where are to going? To one of the other insurance companies that are sinking but which the government has not [yet] bailed out.]
News of the payments to top AIG talent comes as the federal government has just put more money into saving the company from bankruptcy, beefing up the total public commitment to $152 billion. Meanwhile, members of Congress are questioning the company's expenditures -- including lavish business trips to resorts -- during a time when taxpayers are on the hook for the bailout.
American International Group plans to pay out $503 million in deferred compensation to some of its top employees, saying it must tap the funds to keep valuable workers from exiting the troubled insurance giant. [Let 'em go. Where are to going? To one of the other insurance companies that are sinking but which the government has not [yet] bailed out.]
News of the payments to top AIG talent comes as the federal government has just put more money into saving the company from bankruptcy, beefing up the total public commitment to $152 billion. Meanwhile, members of Congress are questioning the company's expenditures -- including lavish business trips to resorts -- during a time when taxpayers are on the hook for the bailout.
posted by Sid Cottingham | 8:09 AM
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