When you hear the emerging facts on the AIG bonus pay-out, no matter how tired you are of the whole topic, you get outraged all over again. According to Attorney Gen. Andrew Cuomo’s office, as reported by Reuters:

* AIG distributed more than $160 million in retention payments to employees at its Financial Products unit, the subsidiary Cuomo says was “principally responsible for the firm’s meltdown.”

* The top AIG bonus recipient received more than $6.4 million

* The top seven bonus recipients received more than $4 million each

* Top 10 bonus recipients received a combined $42 million

* 22 individuals received bonuses of $2 million or more, and combined they received more than $72 million

* 73 people received bonuses of $1 million or more

* 11 recipients of “retention” bonuses of $1 million or more are no longer working at AIG, including one who received $4.6 million

* Employment contracts with AIG bonus recipients had required most individuals’ bonuses to be 100 percent of their 2007 bonuses “despite obvious signs that 2008 performance would be disastrous in comparison to the year before.”

My friend’s husband recently retired as a sales rep for Valic, which was taken over by AIG some years ago. Not only does he have to put up with jokes about the size of his final bonus ($0), but he has to reconcile retiring from a disgraced company after many years working for honorable ones. I think I hate AIG.

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