Tuesday, March 17, 2009

Retention Bonuses


Mr. Cuomo did not name the recipients of bonuses but said one employee received more than $6.4 million. The top seven received more than $4 million each, and the top 10 received a combined $42 million. Eleven of those who received “retention” bonuses of $1 million or more are no longer working at A.I.G., including one who received $4.6 million, he said.

“A.I.G. made more than 73 millionaires in the unit which lost so much money that it brought the firm to its knees forcing a taxpayer bailout,” Mr. Cuomo wrote in the letter. “Something is deeply wrong with this outcome.”

So these are the evil ones.