AIG Bonuses: A Case for the Cash?By
At first blush, American International Group (AIG) appears to have done it again with plans to issue $165 million in bonuses to executives in its financial products business, the unit that singlehandedly made it rack up record losses. Understandably, everyone from President Barack Obama to New York Attorney General Andrew Cuomo has expressed outrage over the notion of paying anything to AIG's derivatives traders. Obama has even told Treasury Secretary Tim Geithner to take every legal route to block the payments. (Hard to imagine taking the U.S. President to court when you're 80%-owned by taxpayers.)
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Fewest Jobless Claims Since 1973 Show Firm U.S. Job Market
- Greenwich Mansion Listings Pulled to Wait for a Better Day
- U.S. Stocks Climb With Treasuries as Dollar Slides: Markets Wrap
- The U.K.'s $86 Billion Pension Problem Is About to Solve Itself
- Germans Are Going Wild for a Show Set During the Dawn of the Nazis