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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.
And that group is primarily responsible for America's $182.3 billion AIG bailout in September 2008. In a normal business, you pay bonuses to top-performing employees if the business earns a hefty ...
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 ...
Let's think back a month or two ago, when all the outrage surfaced over the bonuses paid out by American International Group (AIG). Don't remember? Let me refresh your memory: the company paid out ...
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 ...
From the fall of 2008 through early 2009, the United States government spent nearly $170 billion to assist failing insurance giant American International Group. AIG then spent $165 million of this money to hand out executive "retention" bonuses to its top executives. Public outrage ensued over this perceived misuse of taxpayer dollars.
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 ...
In March 2009, AIG paid $165 million in bonuses to its financial products division, the unit responsible for the company's near collapse the year prior, following $55 million paid to the same division in December 2008 and $121 million in bonus payments to senior executives.