Color me surprised… not. As if AIG wasn’t in enough trouble given their current predicament, this surfaces:
…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.
Now a company that is drowning in red ink and was thrown money by Congress (who should have tied some strings to the money) is wasting it like they did the rest of their cash. Am I surprised? Not really. Congress and the rest of the government should have stopped and thought about what they were doing instead of being all Chicken Little and throwing the money into a hole.