It was revealed over the weekend that American International Group Inc. (NYSE:AIG) – a company that has received more than $170 billion in federal bailout funds since last fall – is committed to paying derivatives traders $165 million in bonuses for their work in 2008.
The company has taken a lot of heat for the bonuses, with President Barack Obama directing Treasury Secretary Timothy Geithner to use all legal means to prevent AIG from handing out the bonus payments.
Do you think it is right that a company that is, in effect, 80 percent owned by the federal government, should be allowed to pay bonuses in the same year that it recorded the largest quarterly history in corporate history – $61.7 billion in the fourth quarter of 2008?
For more information about insurance and reinsurance giant American International Group Inc. (NYSE:AIG), visit www.aig.com.
President Barack Obama directing Treasury Secretary Timothy Geithner,
insurance and reinsurance giant American International Group Inc. (NYSE:AIG),
financial rescue plan,
largest quarterly loss in corporate history,
$170 billion in bailout funds,
$165 million in bonuses,