AIG paying $1.2 billion in bonuses

That’s right. Not $121 million.  Not even $165 million.  $1.2 BILLION, in bonuses and retention payments, a big chunk of it to the very idiots in their Financial Products unit who drove the company into its $175+ billion hole.

According to the Wall Street Journal (via more accessible post at BoingBoing) it breaks down like this:

$121.5 million in incentive bonuses for 2008 (6400 employees)

$450 million bonuses to Financial Product units employees (? employess, but said to be “executives”)

$600 million in retention bonuses (4,000 employees)

TOTAL: $1.2 billion

And of course, the CEO neglected to notify anyone until Saturday that this was going to happen Sunday.

Bonuses. Retention. 

How about PINK SLIPS, you jackasses?  And I not at all respectfully suggest the first one should go to CEO Edward Liddy.

Email to the Board goes to 

Phone calls to 1-877-244-2210.

Let them know just how much you love what they’ve done with your money. Then let your President, both your Senators, and your Representative know how you feel as well.

And spread around that contact info. It’s not about politics. It’s about survival. Ours.

1 Comment

  1. My husband and I were just talking about this last night, Lisa. It’s ludicrous and inconceivable.

    Head honchos aren’t the ones who keep things running in any company, it’s the hardworking underlings–the secretaries, administrative assistants and all the other grossly underpaid office workers. They’re the ones who should split those bonuses. And the big guns? Give them the boot–they’re not needed and only make things worse!

    Thanks for stopping by my blog, Lisa. Hope you made some soda bread and are enjoying it all by yourself! 😉

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