AIG Bonuses Nearly Four Times Larger Than Originally Disclosed

Posted by David Sirota, Open Left at 12:45 PM on May 6, 2009.

Maybe Congress will do something now...nah, probably not.

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Remember how Congress and the White Houe decided to do nothing when it was told AIG was paying out $165 million in bonuses? Remember how we were told that wasn't a lot of money, while the White House was simultaneously telling us less money was a lot of money? Well, check out this little-noticed update from ABC News:

Inflation: AIG Bonuses Nearly Four Times Larger Than Thought
ABC News' Matthew Jaffe Reports: AIG, the recipient of approximately $180 billion in government bailout aid, paid out over $454 million in bonuses company-wide in 2008, according to documents that the company submitted to Congress.

The embattled insurance company, which ignited a heated controversy in March for dishing out $165 million in retention payments to employees in its troubled Financial Products division, revealed the bonuses in response to written questions from Rep. Elijah Cummings, D-Md.

The $454 million number is now the third different figure that AIG has disclosed for its 2008 bonuses, with each number far larger than the previous one.

Maybe Congress will do something now...nah, probably not. We'll probably be told that half a billion dollars isn't important.

Tagged as: economic crisis, aig

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This is a tempest in a teapot [Report this comment] Posted by: EncinoM on May 6, 2009 6:29 PM Current rating: 1 [1 = poor; 5 = excellent] The Finacial service division was the trouble maker teh other parts of AIG were doing fine. Given that in currently employees over 100K employees world wide, the size of the bonus is not that extreme. Working out the math it averages to a between 4 or 5 thousand per employee. [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] » RE: This is a tempest in a teapot Posted by: cocozane » Your spelling sucks and your intellectual abilities are not far behind. Posted by: thekidde » RE: Boycott these big bastards, and their subsidiaries! Posted by: sasquuatch55 Maybe Congress will do something now....LMAO [Report this comment] Posted by: Magginkat on May 7, 2009 4:22 AM Current rating: 5 [1 = poor; 5 = excellent] Not likely that our beloved Congress will do anything about these obscene bonuses paid to a bunch of crooks because our crooks in Congress will get some nice chunks of those bonuses in the form of donations (bribes). [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] No tempest no teapot [Report this comment] Posted by: grindermonkey on May 7, 2009 5:34 AM Current rating: 5 [1 = poor; 5 = excellent] just the same lying dirtbags that ran the economy into the ground with their "commissions." Do you want to borrow money from these people? Do you want to pay them to borrow your own tax dollars? Stay hungry. [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] So, What Did You Expect? [Report this comment] Posted by: Jaipurr on May 7, 2009 5:47 AM Current rating: 5 [1 = poor; 5 = excellent] Did anyone really think that this corruption and financial chicanery would stop? Just how many of you are that easily fooled? It will NEVER stop as long as the scum are riding on the top of their own sewer. Do you really think that turkeys vote for Christmas? In any fair and sane society these shits would be in jail, or preferably,facing a firing squad. NOTHING HAS CHANGED AND NOTHING WILL !!! [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] The next time you see Hank Greenberg on Charlie Rose [Report this comment] Posted by: weathered on May 7, 2009 7:09 AM Current rating: 5 [1 = poor; 5 = excellent] ask yourself how a criminal can afford such PR? The next time you listen to 'all things considered' ask yourself who oversees the content? The devil's in the details, no shit. A country that continues to Lie to itself, marginalizes itself for the benefit of a few at the expense of the many. [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] Why aren't they in jail? [Report this comment] Posted by: willymack on May 7, 2009 11:09 AM Current rating: 5 [1 = poor; 5 = excellent] Are they EVER going to go to jail? How much longer do we have to put up with their arrogant lawlessness? These crooks think they're INVINCIBLE. Maybe they're right. [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] C'mon, people [Report this comment] Posted by: Age of Reason on May 7, 2009 12:07 PM Current rating: 5 [1 = poor; 5 = excellent] ...what's a few hundred million dollars among friends? It's still less than 1/1000th of the amount the U.S. Treasury is being stiffed for by the Federal Reserve Bank to TORPEDO the economy before total collapse of the dollar and hyper-inflation set in. [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] Lets stop [Report this comment] Posted by: wormfarmer on May 7, 2009 12:56 PM Current rating: 3 [1 = poor; 5 = excellent] debating this issue and prosecute those that our judicial system finds responsible.The longer we delay this action, the potential for these acts, (everything from 9-11 to the torture of people in our possession, to these redundant bailouts),will drift from the consciousness of people. We should pursue the values and standards that reflect what we as a PEOPLE, want the rest of the world to see. This behavior by our government and our society has to be stopped, otherwise our lack of ethics in our society will destroy us. Lets prosecute according to how our laws and ethical values guide us, and then move on. DON'T LET THIS DRIFT AWAY! If we let this happen, it will bite us in the ass, again! [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] obamarama [Report this comment] Posted by: wormfarmer on May 7, 2009 1:06 PM Current rating: 3 [1 = poor; 5 = excellent] As I watched with interest the state of our economy and status throughout the world, my impression of Barak Obama was one of hope, change, hopefully a little independence of thought and deed. I was ready to extend time and patience for the transition of President. This is not working, as I concluded with the team of economic advisors, Summers, Giethner, Volker, keeping,but shuffling, the same military advisors, Gates, Patraeous, etc......., maintaining the same aggressive stance in the middle east, giving the future of succeeding generations to thieves and con men, letting corporations have their way with our society. I have not seen any hope or change from this administration, just the same corporate controlled domination of the populace, keeping control of the masses. Now we are moving our military presence into Afghanistan, soon Pakistan, I was hoping to see something other than an embracing of the status quo, but then I remembered that our country elected a corporate candidate. I would hope that by this time the population would have awakened to the corporate shenanigans that have been so redundant throughout this country's history, but then I thought about the collective attention span of America. The time is ripe for us to stop the political complicit behavior, to adopt the Ralph Nader suggestion of a 1/10 of one percent tax on all stock transactions, to stop the sacrificing of this country's future to the perpetraitors of economic collapse. [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5] Oh my heavens! Stop the presses, alert the media . . . AIG caught lying [Report this comment] Posted by: charles000 on May 13, 2009 12:14 PM Current rating: Not yet rated [1 = poor; 5 = excellent] Oh my heavens! Stop the presses, alert the media . . . AIG caught lying??? Tell me this isn't so. I'm crushed, I can't believe what I'm reading!!! You mean those nice looking fellows in the pin striped suits and lovely power ties . . have been lying to us? No, it can't be . . . The shock . . . I just can't take it anymore. Better schedule another around of appointments with my therapist. [« Reply to this comment] [Post a new comment »] [Rate this comment: 1 - 2 - 3 - 4 - 5]

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» RE: This is a tempest in a teapot Posted by: cocozane

» Your spelling sucks and your intellectual abilities are not far behind. Posted by: thekidde

» RE: Boycott these big bastards, and their subsidiaries! Posted by: sasquuatch55

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» RE: This is a tempest in a teapot Posted by: cocozane

» Your spelling sucks and your intellectual abilities are not far behind. Posted by: thekidde

» RE: Boycott these big bastards, and their subsidiaries! Posted by: sasquuatch55