After Posting An $8.8 Billion Loss, AIG Execs May Get A Pay Raise (VIDEO)

AIG may have lost $8.87 billion last quarter -- and may be in need of another federal cash infusion -- but some of the company's top executives are set to get new raises, according to Bloomberg's Margaret Brennan.

Pay czar Kenneth Feinberg is reportedly open to negotiating salary changes for the insurance giant's top 25 execs, though the proposed changes would be relatively modest: while some of the executives will reportedly get raises of less than 10%, others will see their salaries slashed -- although by less, Brennan says, than in 2009, when pay was cut by about 91 percent.

The news, which Bloomberg says will be confirmed by the company sometime this month, comes a day after AIG announced the sale of its Asia unit to Prudential for $35.5 billion.

WATCH the full clip:

Comments

[tribilin219]

09:03 PM on 03/03/2010

And two days ago they were going to ask for more tax payer money !! and that's OK with the republicans, How do you like that.

[lvdragonlady]

02:50 PM on 03/03/2010

Someone needs to wake up the board of directors and tell them to pay more attention or they are going to lose everything.

[SnickDiesel]

12:12 PM on 03/03/2010

When will the politicians get back to 'THE PEOPLES BUSINESS' ?

[Peter Noble 2]

11:32 AM on 03/03/2010

Obama talking about JP Morgan and GS:
"First of all, I know both those guys," Obama said. "They're very savvy businessmen. And I, like most of the American people, don't begrudge people success or wealth. That's part of the free market system."

I presume Obama will be just as thrilled with AIG. We get to lose our jobs if we fail. Obama gets a better paid job when he fails, just like any CEO there's always gold inside the dark clouds with silver linings.

Only the majority have to suffer the consequences of their mistakes.

No change, just misery, no hope, no future, no how... God Save America and its Fascist Regime! (apologies to Johhny Rotten)

[decsatsv]

08:32 AM on 03/03/2010

So now the government has formalized that old corporate policy; "reward the guilty and punish the innocent" on a national scale. It's all a little foggy now, but is this the change we were to believe in?

"Big banks' pay nears $300bn mark"

http://www.efinancialnews.com/story/2010-03-03/big-banks-pay-nears-three-hundred-billion

[land2341]

08:13 AM on 03/03/2010

Rome is burning and the party goes on!

Can some one direct me to the vomitorium?

[Peter Noble 2]

11:34 AM on 03/03/2010

Yes it's the public balcony in the Senate... it doesn't matter where you aim;)

[Jaspatk1701]

07:37 AM on 03/03/2010

THIS IS OUTRAGEOUS, they should be in receivership, their parts divided up and their salaries and assets divided among their victims: pensioners, the unemployed and the like.

We have demonstrated at Goldman on Wall Street with like minded and will continue to speak out and demand a just solution to this extortion, holding the American people (and many others) hostage because they are "to big to fail"...To start, clawback their salaries and GIVE BACK THEIR BONUSES, they come by gift of the American taxpayer, which we are. For more, see my blog, http://www.wrathofmcgrath.com

[robertwriter]

07:09 AM on 03/03/2010

THAT'S TERRIFIC!! Pay raises for those responsible for blowing up the economy. Boy, I wish I were treated that way. I could screw everything up, earn millions and just go to parties! THIS IS FREE ENTERPRISE AT ITS BEST.

[mamacat]

06:47 AM on 03/03/2010

Blue collar workers and middle management lose their jobs, and the crooks who destroyed the economic system give themselves multi-million dollar bonuses with tax payer money. Now I know why there was so much enthusiasm for the guillotine two hundred and twenty years ago.

[hellboundtrain]

06:09 AM on 03/03/2010

Why not just cast them in gold and put them on a pedestal?

All Hail and high Praise to the Major Screw-ups!

The only ones that'd screw up more is the idjits that would approve even keepin' 'em around, let alone even considering these guys for a raise.

[FredKnowsBest]

06:01 AM on 03/03/2010

I should apply for a job at AGI. I could fail as bad at their management, and do it for haft the price.

[land2341]

08:10 AM on 03/03/2010

I agree! I always wanted to know how to do this. I just need one of these big CEO jobs to work for like 6 months bankrupt the company and then walk away with my millions in severance and be set for life.

Dag. I need a new head hunter to get me that gig.

[PhilipTaylor]

12:28 AM on 03/03/2010

THIS IS NOT CAPITALISM - IT IS CORPORATE COMMUNISM!

[Peter Noble 2]

11:36 AM on 03/03/2010

Philip
You are often correct and again so. But we surely as Americans do not begrudge their reward for failing? We Americans know our place in the post Clinton-GWB-Obama Treasury Heist: Never have so many given to so few.

[Coastalthinker2]

12:07 AM on 03/03/2010

Our country is spiraling out of control. We have a President and Congress who are too corrupt and in bed with the ruling elite too actually bring some control back to our financial institutions in the form of real regulations. Everything from so-called credit card reform to health care are band-aid solutions to REAL long term problems. So, AIG execs are probably deciding to take the money while they still can...after all...who will stop them?

[Peter Noble 2]

11:38 AM on 03/03/2010

Sounds like we must vote Democrat again and again as these Republicans need to be ousted... oh sorry I thought it was 2005.

[nopilikia]

12:02 AM on 03/03/2010

Sounds good to me. After all Congress just gave themselves a raise. And thats a bunch of losers in a class all their own.

[Please-Play-Fair]

11:09 PM on 03/02/2010

So, a few weeks ago Nancy Pelosi said that $90B of the Federal Stimulus was given to CA. Pelosi, Gavin Newsom, and Schwarzenegger all saying it's legit. But the only two examples were a parking lot getting a $10K loan and a dry cleaners getting some funding. CA just hiked our sales tax and car registration taxes but we continue to spiral deeper into debt. Why can't any one of these three CA leaders put into writing exactly where this money went?? $90B and your example is $10K to a parking lot loan???? Can you say special interests? I despise Pelosi.