AIG eats another $30 billion-ish

Today, AIG agreed to sell the US government 300,000 preferred shares in exchange for a little vitamin shot by way of $29.835 billion. Why not just round it off and make it $30 cool? Well …

As it turns out, all that noise over AIG getting those big, ugly bonuses amounted to little more than a hill of beans.

“The original amount agreed in early March was $30 billion, but officials subtracted $165 million in retention bonuses paid to employees of the AIG Financial Products unit last month,” reported Reuters.

Of course, the $165 million figure was never really key to the outrage to begin with. But they subtracted it anyway.

Something tells me, to a board of executives responsible for losing $99.3 billion in 2008, $165 million is nothing more than a little ‘Change.’

Source: PrisonPlanet