AIG preparing to pay more bonuses: report
American International Group
The report said AIG has been pressing the U.S. government to approve the payments in hopes of shielding itself from renewed public outrage.
AIG does not need the permission of Kenneth Feinberg, appointed last month to oversee the compensation of top executives at seven firms that have received large federal bailouts, the Post said.
But AIG officials have been reluctant to move forward without political cover from the government, according to the report.
Any time we write a check to anybody it is highly scrutinized, an AIG official told the Post, speaking on condition of anonymity. We would want to feel comfortable that the government is comfortable with what we are doing.
AIG's upcoming payments do not fall under Feinberg's official purview because they involve bonuses delayed from 2008, the article said.
As a result, some Treasury officials believe they are under no obligation to offer an advisory opinion in this case, which could leave company officials to decide the matter on their own, the Post said, citing a person familiar with the talks.
(Reporting by Joanne Allen; Editing by Gary Hill)
© Copyright Thomson Reuters 2024. All rights reserved.