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AIG Spa Trip Fuels Fury on Hill October 8, 2008

Posted by trouble97018 in Economy, News, Politics.
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Washington Post Staff Writer
Wednesday, October 8, 2008; Page D01

For some people at AIG, the insurance giant rescued last month with an $85 billion federal bailout, the good times keep rolling.

Joseph Cassano, the financial products manager whose complex investments led to American International Group‘s near collapse, is receiving $1 million a month in consulting fees.

Former chief executive Martin J. Sullivan, whose three-year tenure coincided with much of the company’s ill-fated risk-taking, is receiving a $5 million performance bonus.

And just last week, about 70 of the company’s top performers were rewarded with a week-long stay at the luxury St. Regis Resort in Monarch Beach, Calif., where they ran up a tab of $440,000. Source Article

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