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Your Tax Dollars at Work: More Bonuses at AIG
I guess I shouldn't complain. Obviously, the abrogation of the terms of the loan mean nothing; I should have known that this was the first of the American International Group Inc., the insurer under fire for paying 168 executives not to quit after a government takeover, is giving retention awards to at least 2,000 more employees, according to a person familiar with the matter. The "retention bonus" equals as much as a year's salary and recipients were ordered to keep the payment secret, said the person, who declined to be named because the plan was labeled confidential. Awards were offered to as much as 10 percent of staff at businesses that are for sale, including plane-leasing and insurance units in the U.S. and overseas, the person said. "If it has the money to give these disguised bonuses to thousands of its employees, then I think it is time for Mr. Liddy to write a check to the federal government repaying the money it took," said Representative Elijah Cummings, a Maryland Democrat, in a statement yesterday. Maybe you shouldn't have written the check funding this insanity to begin with. Posted by: badanov 2008-12-14 |
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