AIG to pay $450 mln bonuses to financial-products staff

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AIG to pay $450 mln bonuses to financial-products staff – MarketWatch: “
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By MarketWatch
Last update: 1:07 p.m. EDT March 15, 2009Comments: 1265
WASHINGTON (MarketWatch) — American International Group is set to pay $450 million of bonuses to employees of the unit that was largely responsible for the New York insurer’s near collapse last fall.
The decision to pay bonuses elicited howls of protest in Washington, which has prevented the failure of AIG by providing the insurer with more than $173 billion in aid. The federal government now owns 80% of AIG (AIG:

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Larry Summers, one of President Barack Obama’s top economic advisers, called the payments ‘outrageous,’ and a key House lawmaker, Barney Frank, D.-Mass., told Fox”

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