AIG Pulls Fast One -- "Cash Awards" Going To Managers
Jonathan Tasini
HuffPost
When you are a pro at a scam -- the definition of "scam" also can be found under the term "insurance industry" -- you know how to try to pull a fast one. And AIG is trying to pull one -- under cover of the holidays. Check this out.
You may remember that AIG -- which is afloat only thanks to a bailout by you, the taxpayer, to the tune of $152 billion and counting -- made a whole lot of public relations when its top seven executives agreed not to take bonuses this year.
Well, on the eve of Thanksgiving, obviously knowing the markets would be closed on the holiday and obviously knowing that just before the holiday few people would pay attention, AIG actually notified regulators that, well, yes, bonuses would be given out, as Bloomberg News and The Financial Times reports today:
(More here.)
HuffPost
When you are a pro at a scam -- the definition of "scam" also can be found under the term "insurance industry" -- you know how to try to pull a fast one. And AIG is trying to pull one -- under cover of the holidays. Check this out.
You may remember that AIG -- which is afloat only thanks to a bailout by you, the taxpayer, to the tune of $152 billion and counting -- made a whole lot of public relations when its top seven executives agreed not to take bonuses this year.
Well, on the eve of Thanksgiving, obviously knowing the markets would be closed on the holiday and obviously knowing that just before the holiday few people would pay attention, AIG actually notified regulators that, well, yes, bonuses would be given out, as Bloomberg News and The Financial Times reports today:
(More here.)
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