Tuesday, August 18, 2009

Robert Benmosche is the new CEO of AIG, 80% of
which is now owned by American taxpayers. (AIG,
you may recall, has received $182 billion in federal
bailout money.) The Obama Administration's executive
compensation czar has decided that it's OK to give Mr.
Benmosche a pay package which includes a $7.5 million
salary plus an option for a $3.5 million bonus. This bit
of good news should put the quietus on all those rumors
that the Obama Administration is in the tank with
Wall Street financiers.

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