Top Treasury officials yesterday lambasted a new round of bonus payments to employees of American International Group Inc.’s financial-products division, but stopped short of faulting current management, The Wall Street Journal reports. Comp czar Kenneth Feinberg, who oversees pay programs for the top employees at firms that have received substantial government aid, explains the bonus contracts to AIG Financial Products staffers were “grandfathered” arrangements that “have the legal force of law.”
Geithner, Feinburg Blast AIG Pay
Top Treasury officials yesterday lambasted a new round of bonus payments to employees of American International Group Inc.’s financial-products division, but stopped short of faulting current management, The Wall Street Journal reports.
February 4, 2010