If you can get it.
American International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars.
AIG is paying out the executive bonuses to meet a Sunday deadline, but the troubled insurance giant has agreed to administration requests to restrain future payments.
The Treasury Department determined that the government did not have the legal authority to block the current payments by the company. AIG declared earlier this month that it had suffered a loss of $61.7 billion for the fourth quarter of last year, the largest corporate loss in history [bold added].
The revolution should start any time now. Aaaaany time now.
UPDATE:
Apparently, AIG isn’t giving out “tens of millions of dollars” in bonuses to reward its employees for screwing up royally. Because that would be ridiculous. According to the WSJ, they’re giving out hundreds of millions:
American International Group Inc. will pay $450 million in bonuses to employees in its financial products unit. That division was at the heart of AIG’s collapse last fall, which compelled the U.S. government to provide $173.3 billion in aid to keep it running.
Aaaaany time now.
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Viva!