AIG Financial Products President Joseph Cassano Barred Auditor From Valuing Credit Default Swaps
Obama Administration: We Didn’t Find Out About AIG Bonuses Until This Month – Sources in the Obama administration Tuesday said that despite previous media reports administration officials did not know until a couple weeks ago that the officials of the controversial AIG Financial Product Division were set to receive $165 million in bonuses on March 13.
Wyden: My Bill Could Have Prevented AIG Mess – Senator Ron Wyden said on Tuesday that the furor surrounding AIG’s bonus payments could have been avoided had the Obama White House and members of Congress simply backed legislation that he and Sen. Olympia Snowe introduced more than a month ago.
AIG staff: We deserve this money – AIG’s new management team last year proposed that its employees give up their “retention” bonuses, or at least reduce them. The response from the 370 or so employees set to rake in $450 million in bonuses through 2010? Take a hike.
Tags: economics