Thursday, January 29, 2009

Invincible Wall Street

Another for our series, "Invincible Wall Street":

Jan. 27 (Bloomberg) -- American International Group Inc., the insurer saved from collapse by government money after losses on credit-default swaps, offered about $450 million in retention pay to employees of the unit that sold the derivatives, according to two people familiar with the situation.

About 400 workers at the financial products unit may get the money in two installments

It costs that much to manage an existing book of business? Really?

No comments: