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01.27.09 - 5:44 PM

Put These Guys in Guantanamo: AIG Gives $450 Million of Bailout Cash to Just 400 Employees

Bloomberg news is reporting this evening:

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...

--Craig Brown