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The lobby of AIG's headquarters in the American International Building.. The AIG bonus payments controversy began in March 2009, when it was publicly disclosed that the American International Group (AIG) insurance corporation was going to pay approximately $218 million (~$301 million in 2023) [1] in bonus payments to employees of its financial services division.
This was seen as a reference to the $165 million in bonuses paid out in March 2009 to employees of AIG's "financial products" division, which sold the credit derivatives that put AIG deeply in debt after the Lehman Brothers collapse and compelled the Federal Reserve to bail out AIG with an $85 billion loan six months earlier, that eventually ...
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AIG Financial Products Corporation (AIGFP) is a subsidiary of the American International Group, headquartered in New York, New York, with major operations in London. The collapse of AIG Financial Products, headquartered in Wilton, Connecticut , is considered to have played a pivotal role in the global financial crisis of 2008–2009 .
There has been a good deal of controversy over the original plan for AIG (AIG) to pay some of its "key" employees and managers $245 million in bonuses. The federal government, which owns 80 ...
The insurance company, which is largely owned by the U.S. government, is asking the Administration whether it should pay $235 million that it agreed to AIG requests more bonus money Skip to main ...
Sullivan's severance package payments were withheld by AIG after the then Attorney General of New York, Andrew Cuomo, raised issues. [7] According to USA Today, "AIG CEO Martin Sullivan received $25.4 million in non severance related compensation between 2005 and 2007, including $322,000 for private use of corporate aircraft, $153,000 for car and parking, $160,000 for home security and $41,000 ...
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