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August 18, 2009

CEO of Government-Run AIG to Earn 17x More than Obama
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In economic news, the new head of the bailed-out insurance giant AIG
will earn at least $7 million a year, even though AIG is essentially now
a taxpayer-owned entity. Robert Benmosche will earn seventeen times more
than President Barack Obama’s $400,000 salary. Benmosche will also be
eligible for a $3.5 million bonus. The New York Times reports the pay
package has received preliminary approval by Kenneth Feinberg, the
administration official in charge of overseeing compensation for top
executives at seven large firms bailed out by the federal government.
Bernmosche is the former head of Met Life. He still owns about $17
million in Met Life stock.



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