Following up on INN's coverage of AIG's most recent financial quagmire, President Barack Obama yesterday said his administration would "pursue every single legal avenue to block" bonuses to employees at AIG's Financial Products business. An additional $230 million of bonus payments is pending, after $55 million was paid in December and $165 million last Friday. According to American Banker, an additional $230 million is pending.

The Obama administration plans to attach new conditions to an upcoming bailout infusion into the conglomerate that would recover, either by a reduction in the next infusion, or by some other means, the bonuses already paid.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access