The Daily Background
| Another head + desk moment, this time brought to you by A.I.G.
by Arlen Parsa
So, A.I.G. has paid a whole heckuva lot of money in “retention” bonuses, despite receiving 170 billion in tax-payer bailout money:
The bonus plan established for the financial products unit before the federal government stepped in called for $220 million in retention pay for 400 employees for 2008. About $55 million of that was paid in December and the remaining $165 million was paid on Friday.
The retention plan also calls for another $220 million in bonuses for 2009 that are due to be paid by March 2010. Combined with the 2008 bonuses, that would bring the total retention pay for financial products executives to $450 million.
I’m gonna go out on a limb here and say that maybe some of A.I.G.’s executives shouldn’t be kept on, much less be given retention bonuses.
I agree. Ever since *I* have been paying this bailout money to banks and companies, I have been wondering *why* anyone near the top should stay.
I’m thinking that the CEO, CFO, and most of the boards of directors should go.
Randy
I’m a little miffed and peeved at the Obama Administration for not properly vetting AIG before handing them all this money. Why in the world didn’t they ask AIG to lay out exactly what their fiscal plans were before handing them our tax money. Idiots! I voted for Obama but I think this a big scam. I find it hard to believe an Administration could be this stupid. I hope Cuomo takes AIG down and runs for president in 2012.