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nytimes.com - 3/15/2009

A.I.G. Planning Huge Bonuses After $170 Billion Bailout

— nytimes.com — A.I.G. Planning Huge Bonuses After $170 Billion Bailout (more) A.I.G. Planning Huge Bonuses After $170 Billion Bailout

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Bailout Plan

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nytimes.com - 3/15/2009

A.I.G. Planning $100 Million in Bonuses After Huge Bailout

— nytimes.com — WASHINGTON — Despite being bailed out with more than $170 billion from the Treasury and Federal Reserve,... the American International Group is preparing to pay about $100 million in bonuses to executives in the same business unit that brought the ... (more) A.I.G. Planning $100 Million in Bonuses After Huge Bailout

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nytimes.com - 3/15/2009

A.I.G. Planning $165 Million in Bonuses After Huge Bailout

— nytimes.com — The Obama administration sought to reduce the bonuses, but the insurer, which received more than $170 billion... in aid, said it was obligated to pay them. > (more) A.I.G. Planning $165 Million in Bonuses After Huge Bailout

Bailout Plan

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Bailed-out AIG doles out $165 million in bonuses.
Think Progress — ... Insurance giant American International Group, which has received $170 billion in funds from the government to stay afloat, will award about ...

Distasteful
Balloon Juice — Great stuff: 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. [....] “I do not like these arrangements and find it distasteful and difficult to recommend to you that we must proceed with them,” (AIG’s leader) Liddy wrote. It’s distasteful to stop paying the geniuses at AIG millions of dollars in ...

Why AIG Bonuses Argue In Favor Of Bank Nationalization
Wonk Room — Despite receiving $170 billion in taxpayer funds — and being confronted by Treasury Secretary Timothy Geithner — insurance giant American International Group (AIG) still plans to pay out $165 million in employee bonuses and retention pay. AIG’s chief executive Edward Liddy expressed “grave concerns” about the company’s ability to retain staff if the bonuses — allegedly promised before AIG accepted taxpayer money — were renegotiated. The bonuses have sparked considerable outrage in ...

If You've Got Consistency, I've Got A Sword
Power Line — ... I'm not sure whether there is actually anything wrong with the AIG bonuses or not; if the facts are as described by the Washington Post, this may be a standard employee compensation issue, not an executive greed-fest. The real lesson is that the federal government has no business trying to run an insurance company. When the manner in which AIG pays its employees becomes a political food-fight, something is seriously wrong. ...

Dick Armey’s Clients Required The Bailouts That Armey’s FreedomWorks Is Now Protesting
Wonk Room — ... services crisis” and tax issues to simply “policies affecting securities firms.” DLA Piper also represented TARP recipient Discover Financial Services. Let’s look at these institutions for a moment. AIG attached a hedge fund to its insurance company, and wound up with $40 billion in credit default swaps that it couldn’t honor. It then paid out $165 million in bonuses, after being kept alive with $170 billion in taxpayer money. Merrill Lynch incurred catastrophic losses on subprime ...