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Tuesday, September 24, 2013

AIG’s Benmosche on Bonuses amid the Bailout

Robert Benmosche, former CEO Of American International Group (AIG)—one of the biggest corporate recipients of government bail-out (TARP) funds—likened the resistance by the American public and some government officials to partial bonuses being paid to hundreds of employees in the ill-fated financial products unit as akin to a racial lynching. Rather than debating the merits of the bonuses, I want to dissect Benmosche's statements for clues to his underlying mentality.