AIG keeps on being AIG
AIG (NYSE:AIG) is batting 1,000. The latest drama being reported is the company is set to receive $195 million in retention payments for a "substantial" number of employees who no longer work for the insurer -- quality.
(Sharon Lorimer | CNBC) A substantial number of AIG's Financial Products employees set to get some $195 million in retention payments no longer work with the bailed out insurer, sources familiar with the matter said on Wednesday.
This will be the latest round of retention payments to the staff of the American International Group unit that was behind the insurer's spectacular losses from credit derivatives and downfall in September 2008.
A $165 million payment to employees in March of 2009 led to verbal assaults by politicians and several demonstrations, including a bus tour of employee homes near the unit's Wilton, Connecticut headquarters, and threats to others.
The latest payments would come at a time when public anger over outsized Wall Street bonuses is building to a new crescendo. Firms such as Goldman Sachs