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sinboyYou're AIG!
American International Group Inc., the insurer that said yesterday it scrapped bonuses for top executives after a U.S. bailout, will still pay 130 managers "cash awards" to stay with the firm, including $3 million to retirement services chief Jay Wintrob.
Wintrob, 51, will get the "retention" payment in two installments, the first in April 2009 and the rest a year later, New York-based AIG said today in a regulatory filing. The firm previously disclosed the program in a Sept. 26 filing and said today that Wintrob and Chief Financial Officer David Herzog elected to get the payments four months later than planned.
How many salaried employees in the middle class range could those bonus dollars have kept hired for another year? What they're doing is not just wrong, it's class warfare. Why are we so complacent about this? Is capitalism so sacrosanct that we can't find some way to stop this form happening?
You don't get billions in bailout money, fire thousands, and then get to pay yourself millions in bonus money, and the penalty for doing that should be really damn harsh.
American International Group Inc., the insurer that said yesterday it scrapped bonuses for top executives after a U.S. bailout, will still pay 130 managers "cash awards" to stay with the firm, including $3 million to retirement services chief Jay Wintrob.
Wintrob, 51, will get the "retention" payment in two installments, the first in April 2009 and the rest a year later, New York-based AIG said today in a regulatory filing. The firm previously disclosed the program in a Sept. 26 filing and said today that Wintrob and Chief Financial Officer David Herzog elected to get the payments four months later than planned.
How many salaried employees in the middle class range could those bonus dollars have kept hired for another year? What they're doing is not just wrong, it's class warfare. Why are we so complacent about this? Is capitalism so sacrosanct that we can't find some way to stop this form happening?
You don't get billions in bailout money, fire thousands, and then get to pay yourself millions in bonus money, and the penalty for doing that should be really damn harsh.