New Chief at A.I.G. to Be Paid at Least $7 Million a Year

If there had been no gov't. bailout this company would not be paying any where near this kind of money to CEO, IF they had survived. Contend it's gov't intervention that's, at least partially, to blame for these unwarranted salaries. So much for all the Administration's bluster re controlling salaries!! Let the free market control salaries! - MBC

http://www.nytimes.com/2009/08/18/business/18insure.html?_r=1&ref=todayspaper

"...A.I.G. disclosed Monday in a regulatory filing that it would pay Robert H. Benmosche, 65, the former head of MetLife, $3 million a year in cash and $4 million in stock.

Mr. Benmosche will also be eligible for up to $3.5 million in stock as part of an incentive plan, A.I.G. said in a regulatory filing.

The pay package has received preliminary approval by Kenneth R. Feinberg, the administration official in charge of overseeing compensation for top executives at seven large firms bailed out by the federal government, according to the regulatory filing..."