Thursday, July 9, 2009

AIG to pay bonuses - Have you looked at your stock price? 9:00PM

From MarketWatch AIG set to pay 'millions' in more bonuses: report LOS ANGELES (MarketWatch) -- American International Group Inc. (AIG 9.30, -0.18, -1.90%) is preparing to pay millions of dollars more in bonuses to several dozen top corporate executives even though an earlier round of payments four months ago set off a national furor, the Washington Post reported late Thursday. The insurer is unnecessarily seeking federal government approval for the move, putting the administration's new compensation czar Kenneth Feinberg on the spot by seeking his opinion on bonuses that were promised long before he took his post, the report said. "Anytime we write a check to anybody" it is highly scrutinized, the report quoted an unnamed AIG official as saying. "We would want to feel comfortable that the government is comfortable with what we are doing."
Wow! Considering this; What happens when they pay these bonuses (If they are allowed to)and the stock goes to it's proper place - zero - and needs another bailout? That should be some quality TV.

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