Saturday, March 21, 2009

This AIG bonuses

Oooh, my, this is an interesting little snippet. It appears that the AIG bonuses were rather larger than originally admitted. This is a bit embarrassing if they can't even add up. You might not expect bankers to judge risk perfectly, but you would hope they could add.

Documents turned over to the Connecticut attorney general show that American International Group Inc paid out over $218 million in bonuses, more than the previously disclosed $165 million, published reports said on Saturday.

The reports said the documents were turned over to Attorney General Richard Blumenthal's office late on Friday in response to a subpoena.

The documents show that bonuses of at least $1 million were paid to 73 people, and five received more than $4 million.

No, that really is pretty bad, that they couldn't even add up the amount that they'd paid out to their own workers.

I wonder what else we're going to find out, what else we're going to have leaked to use before this story is all over?

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