Wednesday, March 24, 2010

Lemon Socialism: AIG Exec Salaries

Why in the world aren't we capping these guys at a the top of the Federal Executive scale: $180k or there abouts instead of $500k? Read AIG: Increases Pay for Most Top Managers Who Remained
Exceptions to the $500,000 cap were made for those deemed critical to AIG’s success, including Benmosche, whose compensation was unchanged from last year’s $7 million salary and $3.5 million in long-term incentives. Five other AIG executives had base cash salaries of $500,000 or more in 2010, according to the Treasury document. AIG is majority-owned by the U.S. after a rescue that has swelled to $182.3 billion.
And why aren't we distributing the Fed's share of AIG stock to every American's 401k plan? There was a bill in the house to do that last year I think.

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