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Wednesday, October 14, 2009

Treasury 'Didn't Understand' AIG's Bonus Plans

In a report released Tuesday, Barofsky wrote that the Treasury Department did not understand AIG's byzantine pay structures when it gave the firm billions in aid last fall. The government has committed a total of more than $180 billion to wind down the New York-based insurance and financial services conglomerate, and now owns about 80 percent of the company.

Why the Hell would you give taxpayer money to a company without knowing how it would potentially be used?

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