Those who question the power and strength of American International Group may pay heed to their affect on the stock market last week, when the company’s plans to pay millions of additional dollars in bonuses to dozens of corporate executives resurfaced, setting off a wild ride on Wall Street.
Washington's newly-appointed compensation czar Kenneth Feinberg is currently reviewing the bonuses, which amount to $2.4 million payable on July 15, and another pending $235 million in retention bonuses in coming months. Feinberg, who President Obama appointed last month, will also oversee the compensation of top executives at six other firms that have received large federal bailouts.
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