AIG Executives Party in Style
Bailout Looters Didn't Pay Taxes
Really makes you feel good, doesn't it, American?
"AIG agrees to withhold $19m from former CEO; Firm also freezes $600m from others" by Bloomberg News | October 23, 2008
NEW YORK - American International Group Inc. agreed to freeze $19 million due to its former chief and $600 million in compensation for other executives amid criticism of such payments in light of the collapsed insurer's US bailout.
New York Attorney General Andrew Cuomo said yesterday that AIG will withhold severance and bonus payments from former chief executive Martin Sullivan and will not distribute funds from the $600 million deferred compensation and bonus pools of AIG's Financial Products subsidiary. The New York insurer submitted to a US takeover last month and already has tapped two-thirds of its $122.8 billion Federal Reserve credit line.
When Sullivan was ousted, AIG agreed to give him about $47 million in severance and long-term compensation. He was to receive $15 million in severance pay, a bonus of $4 million, and equity and long-term cash awards valued at about $28 million, the company said July 1 in a regulatory filing. --more--"
The truth is, it hurts to come on here day-after-day and post the fleecing of not only me, but all decent, average, hard-working Americans out there.
You got SO RIPPED OFF by this "RESCUE" BILL that the ANGER and RAGE come from the PAIN PURPOSEFULLY INFLICTED UPON YOU by these EVIL, GREEDY MONSTERS!!!
