AIG Exec Gets $4M Raise

Who needs bonuses when you can get a raise? Pay czar Kenneth Feinberg has approved a raise for an AIG executive that will give him or her over $4 million on top of a base salary of $450,000. The pay package includes stock options currently worth $3.26 million and additional incentive award of up to $1 million. Feinberg said he approved the package so it would be comparable to those that other executives at AIG receive. The executive had been planning to leave the company.