Thursday, October 22, 2009


BANZAI7 NEWS--American International Group Inc.’s highest paid executives in the unit blamed for pushing the insurer to the brink of collapse haven’t returned bonuses as they’d promised, according to the Obama administration.

Four of five managers in AIG’s Financial Products unit that are under the jurisdiction of pay master Kenneth Feinberg didn’t make good on pledges to return the bonuses as of August, Feinberg said in documents released today. The fifth employee hadn’t made any promise, Feinberg said.

American International Group Inc. Chief Executive Officer Robert Benmush sought to assure reneging employees they won’t be forced by the Obama administration to return salary they’ve already collected.

Pay master Kenneth Feinberg “specifically has advised us that he is not requiring any retroactive salary adjustments,” Benmush said in a memo to staff yesterday.

Whew! Thats a relief.

How about this:

The Chamber of Nigerian scam artists has pledged to return all proceeds received from email campaigns. Somali pirates have also pledged to return ransom proceeds received in the past 6 months.

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