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AIG bonuses 'showered like confetti'

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AIG bonuses 'showered like confetti'


It has been revealed that the stricken American insurance giant AIG paid out 40 million euros more in bonuses than had previously been stated.

Documents obtained under subpoena show that a total of 160 million euros was paid out, that is 32 percent more than was first reported. A total of 73 people got more than a million dollars each – that is 730,000 euros, while five executives received more than four million dollars, or nearly three million euros each. President Barack Obama is standing by his Treasury Secretary Timothy Geithner amid calls for his resignation. He has come under fire for failing to stop the AIG bonus payouts after the company had been bailed out by the US Treasury with a 125 billion euro rescue package. The new bonus revelations have sparked a furious reaction among US lawmakers and the general public. Connecticut’s attorney general, who obtained the new figures, said the large bonuses had been “showered like confetti” on AIG employees.
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