AIG Bonus Pool Gets Even Bigger

How much did American International Group really pay out in bonuses? The bailed-out insurance giant has just offered its third assessment of its bonus pool—in response to questions from Rep. Elijah Cummings—and it now says it paid $454 million for work performed in 2008, nearly four times what it said in March. “I was shocked to see that the number has nearly quadrupled this time,” Cummings tells Politico. “I simply cannot fathom why this company continues to erode the trust of the public and the U.S. Congress, rather than being forthcoming about these issues from the start.” A company spokesman explains the new number “reflects all types of variable compensation across all of our businesses.”