Official: AIG bonus estimates grow $53 million

Yes, these bonuses for total failure deserve outrage, but all that really is, is sacrificing a pawn or two in a chess game.

These bonuses for the banksters are little pawns compared to the hundreds of billions of taxpayer money for bailing out Wall Street and the Fed printing money like there is no tomorrow. The elite, who controls Wall Street and the corporate media, has worked out a brilliant strategy.

Just a few moves later everyone will realize that the real plan was to loot the taxpayer, destroy the middle class, the dollar and the economy, bankrupt the U.S. and create the greatest financial /economic collapse in history.

And all the people are excited about are a few pawns, when the elite is after the king – total power and control.

Company paid $218 million, not $165 million, Conn. attorney general says

NEW HAVEN, Connecticut – The attorney general of Connecticut said Saturday that he is asking American International Group Inc. why documents appear to show the company paid $53 million more in bonuses to its financial products division than previously reported.

Documents turned over late Friday show AIG paid $218 million in bonuses last weekend, higher than the $165 million that was previously disclosed, said the office of Attorney General Richard Blumenthal, who had issued a subpoena.

Bonuses were “showered like confetti” on AIG employees, Blumenthal said.

AIG had previously disclosed that the company was contractually obligated to pay a total of about $165 million of previously awarded “retention pay” to employees in the financial products unit, based in Connecticut, by March 15. It said another $55 million in retention pay had already been distributed to about 400 AIG Financial Products employees.

That total of $220 million is about $2 million more than the figure disclosed Friday, and Blumenthal said he was seeking clarification from the company on whether the new papers differ from what was previously reported.

“Unless the number can be explained, it will undercut any lingering rationale the company may have for these unjustified payments,” Blumenthal told The Associated Press on Saturday.

AIG spokesman Mark Herr declined to comment.

The newly released documents show that the nation’s largest insurer, which has received $182.5 billion in federal money to keep it from failing, paid bonuses of more than $1 million to 73 employees, with five of them getting bonuses of more than $4 million, Blumenthal said.

updated 11:35 a.m. ET March 21, 2009

Source: AP

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