The AIG bonus payments controversy began in March 2009, when it was publicly disclosed that the American International Group (AIG) was to pay approximately $218 million in bonus payments to employees of its financial services division.
AIG is notable for having received taxpayer bailouts and in the fourth quarter of 2008 posted a loss of $61.7 billion, the greatest ever for any corporation. Beyond the $165 million in bonus payments that were recently announced, total bonuses for the financial unit could reach $450 million and bonuses for the entire company could reach $1.2 billion.
Read more about AIG Bonus Payments Controversy: Responses From Lawmakers, Media Commentary, AIG's Response and Counter-responses, Response By State Officials, Bonuses Exempted in TARP, Jake DeSantis's Resignation
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... of Jake DeSantis, an executive vice president of AIG’s financial products unit, to Edward M ... Liddy, the chief executive of AIG DeSantis stated that he and the majority of AIG-F.P ... their savings in the form of deferred compensation invested in the capital of AIG-F.P ...
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