By insisting that $165 million in retention bonuses had to be paid to members of its notorious Financial Products unit, American International Group appears oblivious to the fact that as the poster child for the bailout generation, doing business as usual undermines public support for its rescue and threatens its long-term future.
Last week, I said AIG had become something of a laughingstock–the butt of increasingly vicious jokes in the media, which is partly why its healthy insurance units are desperately trying to re-brand.
Now the situation is even uglier, as the company suffers the wrath of a growingly frustrated and furious public, expressed through politicians worried they will be tossed out with the rest of the bums responsible for our economic debacle.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
