IndiaInsurance
4th February 2010, 01:41 PM
US Treasury Secretary Timothy Geithner on Wednesday said insurer AIG s contracts to pay hundreds of millions of dollars in bonuses were outrageous and appealed to Congress to help recoup payments. Geithner said Congress could help recover the deeply irresponsible bonuses by passing an Obama administration proposal to levy fees on large financial firms. American International Group Inc on Wednesday was expected to pay about $100 million in bonuses to employees of its Financial Products unit, which was responsible for making bad bets on credit default swaps that brought the insurance giant to the brink of collapse. AIG is honoring the ...
More... (http://in.biz.yahoo.com/100204/50/bav0rw.html)
More... (http://in.biz.yahoo.com/100204/50/bav0rw.html)