Bailed out insurance giant AIG plans $198 million in new bonuses

American International Group, which has received nearly $200 billion in bailout funds from the federal government, is slated to pay 400 employees in its financial products division another $198 million, according to a report published Wednesday by the Neil Barofsky, the special inspector general for the Troubled Asset Relief Program (TARP).

Forget AIG Bonuses — The Next Bailout is Here

Democrats from Andrew Cuomo to Barney Frank to Barack Obama are demanding that the 418 AIG employees who received bonuses give them back. Sure, it’s outrageous that the very people who drove AIG off the cliff, along with a whole lot of other financial firms, walked away with million-dollar bonuses paid with taxpayer bailout money. But as the Wall Street Journal opinion page points out, “Taxpayers have already put up $173 billion, or more than a thousand times the amount of those bonuses, to fund the government’s AIG ‘rescue.’”

MSM: Jim Rogers – Let AIG Go Bankrupt, Not America

American International Group should be allowed to go bankrupt because keeping it and other sick financials alive on government support risks ruining the US economy, legendary investor Jim Rogers told CNBC Tuesday.