Insurance giant AIG agrees to restructure bonuses (AP)

news.yahoo.com - 3/15/2009

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AP - American International Group is paying out millions of dollars in executive bonuses to meet a Sunday deadline. But the troubled insurance giant has agreed to administration demands to restrain future payments.

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

White House

Bailout Plan

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nytimes.com - 3/16/2009

Obama Orders Treasury Chief to Try to Block A.I.G. Bonuses

— nytimes.com — The president said that he has instructed Timothy F. Geithner to “pursue every single legal avenue” to... block bonuses to the ailing insurer’s executives. > (more) Obama Orders Treasury Chief to Try to Block A.I.G. Bonuses

White House

Barack Obama

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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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Blog Reactions

Say Anything: I’m Tired Of Hearing About What Companies Spent Their Bailouts On

Democratic Underground Latest Breaking News: Insurance giant AIG to pay $165 million in bonuses

AMERICAblog News| A great nation deserves the truth: AIG is doing it again

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I’m Tired Of Hearing About What Companies Spent Their Bailouts On
Say Anything — ... Yes, I know I know. They took federal money. They claimed they had to have it to stay solvent. Then they blow it. I understand the outrage. I get the frustration. ...

Insurance giant AIG to pay $165 million in bonuses
Democratic Underground Latest Breaking News — ... to restrain future payments. The Treasury Department determined that the government did not have the legal authority to block the current payments by the company. AIG declared earlier this month that it had suffered a loss of $61.7 billion for the fourth quarter of last year, the largest corporate loss in history. Treasury Secretary Timothy Geithner has asked that the company scale back future bonus payments where legally possible, an administration official said Saturday. Read more: http://news.yahoo.com/s/ap/20090315/ap_on_bi_ge/aig_bon... Are you fucking kidding me?

AIG is doing it again
AMERICAblog News| A great nation deserves the truth — ... . They obviously have too many friends in all the right places because this is disgraceful and unacceptable. AIG has clearly convinced too many in power - throughout this administration and Congress - that if they don't allow bonuses, everyone will walk. Let. Them. Walk. ...

How to solve AIG's bonus problem
AMERICAblog News| A great nation deserves the truth — My friend Chris wrote me this morning: Chris is Paris posted something on this earlier, but here’s a twist: “In a letter to Geithner dated Saturday, Liddy informed Treasury that outside lawyers had informed the company that AIG had contractual obligations to make the bonus payments and could face lawsuits if it did not do so.”Let’s assume that’s true, and start the countdown clock. When the auto industry needed a bailout, the true believers in the GOP said the problem was labor costs and that the auto companies really needed to ...