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AIG’s new management team last year proposed that its employees give up their “retention” bonuses, or at least reduce them.
The response from the 370 or so employees set to rake in $450 million in bonuses through 2010?
Take a hike.
It apparently didn’t matter that taxpayers have provided $170 billion and counting to bail out AIG. “Quants,” the people who put together the computer-programmed algorithms behind the complicated hedges and trades that brought down the company, pushed back hard against any notion they should sacrifice their bonuses, the source said. If that doesn’t warm the hearts of taxpayers and lawmakers alike, maybe this will: Many of those receiving bonuses already have made enough money not to have to work again.
Here's Gina, wife of Ted explaining why they "CAN'T" give the money back.
AIG’s new management team last year proposed that its employees give up their “retention” bonuses, or at least reduce them. The response from the 370 or so employees set to rake in $450 million in bonuses through 2010? Take a hike. It apparently didn’t matter that taxpayers have provided $170 billion and counting to bail out AIG. “Quants,” the people who put together the computer-programmed algorithms behind the complicated hedges and trades that brought down the company, pushed back hard against any notion they should sacrifice their bonuses, the source said. If that doesn’t warm the hearts of taxpayers and lawmakers alike, maybe this will: Many of those receiving bonuses already have made enough money not to have to work again. Here's Gina, wife of Ted explaining why they "CAN'T" give the money back.Satire Alert . . .
The response from the 370 or so employees set to rake in $450 million in bonuses through 2010?
Take a hike.
It apparently didn’t matter that taxpayers have provided $170 billion and counting to bail out AIG. “Quants,” the people who put together the computer-programmed algorithms behind the complicated hedges and trades that brought down the company, pushed back hard against any notion they should sacrifice their bonuses, the source said. If that doesn’t warm the hearts of taxpayers and lawmakers alike, maybe this will: Many of those receiving bonuses already have made enough money not to have to work again.
Here's Gina, wife of Ted explaining why they "CAN'T" give the money back.
Satire Alert . . .