More money, more problems?

AIG seeks permission to dole out big bonuses

Troubled insurance giant AIG is seeking U.S. government permission to pay out millions more in executive bonuses. The company, which has so far sucked up US$180 billion in taxpayer bailout money, became a lightning rod for public anger last spring when it was revealed it had paid $165 million in “retention” bonuses. This time the payout—including US$2.4 million to about 40 executives—is much smaller, but the reaction is likely to be the same.

The Washington Post