YOU HAVE GOT TO BE KIDDING!

AP is reporting:

American International Group Inc. is consulting with the federal government about its plans to pay millions of dollars in retention incentives and bonuses, a person familiar with the situation said.AIG is working with the Obama administration’s compensation czar, Kenneth R. Feinberg, to ensure the government and the insurer are on the same page before it pays out remaining bonuses due to employees tied to 2008 contracts, according to the person, who requested anonymity because of the sensitive nature of the talks.

The latest round of bonus payments will include about $235 million for employees at AIG’s financial products unit, according to a Wall Street Journal report. AIG’s near collapse was not due to its traditional insurance operations, but instead risky derivatives contracts written by the financial products division. AIG is in the processing of winding down that unit.

AIG is also scheduled to pay out another portion of a much smaller set of bonuses to 40 high-ranking AIG executives. The 40 executives were awarded about a combined $9 million in bonuses for 2008. The insurer paid out half of the bonuses in March and is supposed to pay out the remainder in two installments, the first of which is scheduled for next week.

First of all—a compensation czar?

So, they are still going to pay bonuses to those that actually caused the problem with their GREED, right?  Let me see the Rpubs have blamed the unions for the death of the auto industry because of the pay that the workers were recieving, but somehow are all quiet on these pay outs to the very same people that created the economic crisis in the first place. Is that about it?

Once again the powers that be are more concerned with those that work on Wall Street than those that live on Main Street.  And those people on Mazin Street sit by idlely while they are screwed.

Another indication of the Rational Ignorance Effect.  (Read the page)